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eBay’s FY21 Results ‘Better Than Expected’
eBay is reporting a 42 percent increase in revenue and 29 percent increase in GMV for its first quarter, ending March 31st 2021.
Revenue is $3.0 billion, up 42 percent on an as-reported basis, and up 38 percent on an FX neutral basis. In fact, this quarter is the strongest in revenue growth since 2005, the CEO of eBay explained. Annual active buyers increased by seven percent, generating a total active customer base of 187 million worldwide. Its active seller base also increased by eight percent, totalling 20 million global active sellers.
“We delivered another strong quarter for the company and an excellent start to the year for our buyers and sellers,” said Jamie Iannone, Chief Executive Officer at eBay. “Last July, I laid out our vision for a Tech-led reimagination of eBay and our results prove this long-term strategy is working. While we have more work to do, we are confident we are on a path of continued growth in the years ahead.”
Certain core categories across eBay experienced growth over the last quarter, across the United States and worldwide. Specifically, sneakers valued over USD100 great at a triple-digit rate YoY, and luxury watches also increased from 16 percent in Q4 to 38 percent in Q1. Interestingly, its Trading Card category also experienced a significant uplift in popularity. During Q1, the GMV for Trading Cards was over $1 billion in the US alone, with active buyers in the category doubling.
Its SEO and new Preview Features aim to develop page growth and traffic uplit for sellers. Moreover, its Store Preview feature allows sellers to see the storefront view prior to publishing – this builds ‘seller confidence’ and eases the ‘transition to the new experience’.
Recommerce continues to develop as a category within the eBay ecosystem, with more than 85 percent of US sellers saying they have sold pre-owned goods in 2020. Almost three-quarters of sellers said they would start selling pre-owned goods to support their income over the year.