Q4 2024 eBay Inc Earnings Call Transcript
Key Points
- eBay Inc (EBAY) achieved three consecutive quarters of positive growth in gross merchandise volume (GMV), with a full-year GMV increase of over 1% to $75 billion.
- The company saw a significant acceleration in focused category volume, which grew by 5% in 2024, driven by innovations and strategic investments.
- eBay Inc (EBAY) launched its first proprietary large language models, enhancing productivity in engineering and customer service, and improving search efficacy.
- The company expanded its AI-powered tools for sellers, with the majority now using features like magical listing and AI-enhanced product backgrounds.
- eBay Inc (EBAY) returned nearly $3.7 billion to shareholders through repurchases and dividends, while growing non-GAAP earnings per share by 15% to $4.88.
- The macroeconomic environment remains challenging, particularly in Europe, with lower consumer confidence and GDP growth impacting performance.
- The UK C2C initiative created a temporary headwind for take rate, affecting revenue growth in the short term.
- eBay Inc (EBAY) faces uncertainties related to US tariffs and de minimis changes, which could impact GMV growth.
- The company anticipates a 0.5 point headwind for full-year gross and operating margins due to depreciation dynamics.
- Managed shipping in the UK is expected to negatively impact operating margins by roughly 30 basis points due to gross revenue recognition.
Thank you for standing by, and welcome to the eBay fourth-quarter 2024 earnings conference call. (Operator Instructions) After the speakers' remarks, there will be a question-and-answer session. (Operator Instructions)
I'd now like to turn the call over to John Egbert, Vice President of Investor Relations. You may begin.
Good afternoon. Thank you all for joining us for eBay's Fourth Quarter 2024 Earnings Conference Call. Joining me today on the call are Jamie Iannone, our Chief Executive Officer; and Steve Priest, our Chief Financial Officer. We're providing a slide presentation to accompany our commentary during the call, which is available through the Investor Relations section of the eBay website at investors.ebayinc.com.
Before we begin, I'll remind you that during this conference call, we will discuss certain non-GAAP measures related to our performance. You can find the reconciliation of these measures to the nearest comparable GAAP measures in our accompanying slide
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