eBay revenue rises 15% to $3.1 billion

• eBay’s second-quarter revenue increased 15% to $3.1 billion, while gross merchandise volume rose 15% to $22.4 billion.
• Non-GAAP net income reached $727 million, and free cash flow totalled $326 million.
• eBay completed its $1.4 billion Depop acquisition and forecast continued revenue and merchandise-volume growth for the third quarter.

eBay (NASDAQ:EBAY) reported second-quarter revenue of $3.1 billion, up 15%, while gross merchandise volume increased 15% to $22.4 billion.

Revenue exceeded eBay’s previous $2.97–$3.03 billion guidance, while GMV surpassed the earlier $21.3–$21.7 billion forecast.

Advertising revenue reached $596 million as first-party advertising sales increased 25% on a reported basis.

GAAP net income was $552 million, non-GAAP net income reached $727 million and free cash flow totalled $326 million.

eBay forecast third-quarter revenue of $3.07–$3.12 billion.

Meanwhile, the company completed its Depop acquisition on July 30 for approximately $1.4 billion, adding a fashion marketplace focused on younger consumers.

eBay returned $448 million through $310 million in share repurchases and $138 million in dividends, while declaring another $0.31-per-share quarterly dividend.