SAN JOSE, Calif., Dec. 15, 2021 /PRNewswire/ -- eBay Inc.
(Nasdaq: EBAY), a global commerce leader that connects millions of
buyers and sellers around the world, today announced it has changed
its definition of Gross Merchandise Volume (GMV) to align with
customer money flows on its platforms.
GMV provides a useful measure of the overall transaction volume
on eBay's platforms and is correlated to net transaction revenue.
The Company has updated its definition of GMV to include all paid
transactions on its platforms inclusive of shipping fees and taxes.
Previously, eBay reported GMV regardless of whether the buyer and
seller actually consummated the transaction. This change has been
enabled by the increased visibility derived from the Company's
transition to managing payments globally.
The updated GMV definition has an immaterial impact on
previously reported GMV. Please refer to the table at the back of
this release for a restatement of historical metrics. The
restatement of historical metrics, including GMV and active buyers,
can also be found on the Investor Relations section of ebayinc.com.
GMV under this new definition does not materially change guidance
issued by the Company on October 27,
2021.
About eBay:
eBay Inc. (Nasdaq: EBAY) is a global
commerce leader that connects millions of buyers and sellers in
more than 190 markets around the world. We exist to enable economic
opportunity for individuals, entrepreneurs, businesses and
organizations of all sizes. Founded in 1995 in San Jose, California, eBay is one of the
world's largest and most vibrant marketplaces for discovering great
value and unique selection. In 2020, eBay enabled over $85 billion of gross merchandise volume. For more
information about the company and its global portfolio of online
brands, visit www.ebayinc.com.
Forward-Looking Statements
Certain statements
herein are "forward-looking statements" within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Exchange Act. Such forward-looking statements are often
identified by words such as "anticipate," "approximate," "believe,"
"commit," "continue," "could," "estimate," "expect," "hope,"
"intend," "may," "outlook," "plan," "project," "potential,"
"should," "would," "will" and other similar words or expressions.
Such forward-looking statements reflect eBay's current expectations
or beliefs concerning future events and actual events may differ
materially from historical results or current expectations. The
reader is cautioned not to place undue reliance on these
forward-looking statements, which are not a guarantee of future
performance and are subject to a number of uncertainties, risks,
assumptions and other factors, many of which are outside the
control of eBay. Actual results are subject to other risks and
uncertainties that relate more broadly to eBay's overall business,
including those more fully described in eBay's filings with the
Securities and Exchange Commission, including its annual report on
Form 10-K for the fiscal year ended December
31, 2020 and subsequent quarterly reports on Form 10-Q. The
forward-looking statements in this document speak only as of this
date. We undertake no obligation to revise or update publicly any
forward-looking statement, except as required by law.
The operating metrics provided in Exhibit 99.1 have been
adjusted to reflect certain financial measures that have not been
prepared in accordance with generally accepted accounting
principles, which we also believe will assist investors in
evaluating eBay's financial performance. The operating metrics
should be read in conjunction with (i) the audited consolidated
financial statements, the accompanying notes and "Management's
Discussion and Analysis of Financial Condition and Results of
Operations" included in eBay's Annual Reports on Form 10-K for the
years ended December 31, 2020,
December 31, 2019 and December 31, 2018 and (ii) the unaudited
consolidated financial statements, the accompanying notes and
"Management's Discussion and Analysis of Financial Condition and
Results of Operations" included in eBay's Quarterly Reports on Form
10-Q for the quarterly periods ended September 30, 2021, June
30, 2021, March 31, 2021,
September 30, 2020, June 30, 2020, March 31,
2020, September 30, 2019,
June 30, 2019, March 31, 2019, September
30, 2018, June 30, 2018 and
March 31, 2018.
eBay
Inc.
|
Unaudited
Supplemental Operating Data — Gross Merchandise
Volume (GMV)
|
(In Millions, Except
Percentages)
|
|
|
|
Three Months
Ended
|
|
Sep 30,
2021
|
|
Jun 30,
2021
|
|
Mar 31,
2021
|
|
Dec 31,
2020
|
|
Sep 30,
2020
|
|
Jun 30,
2020
|
|
Mar 31,
2020
|
|
Dec 31,
2019
|
|
Sep 30,
2019
|
|
Jun 30,
2019
|
|
Mar 31,
2019
|
|
Dec 31,
2018
|
|
Sep 30,
2018
|
|
Jun 30,
2018
|
|
Mar 31,
2018
|
GMV as reported
(1)
|
$
|
19,925
|
|
|
$
|
22,587
|
|
|
$
|
24,127
|
|
|
$
|
23,130
|
|
|
$
|
22,098
|
|
|
$
|
24,249
|
|
|
$
|
18,131
|
|
|
$
|
18,685
|
|
|
$
|
17,263
|
|
|
$
|
18,020
|
|
|
$
|
18,166
|
|
|
$
|
19,637
|
|
|
$
|
18,036
|
|
|
$
|
18,945
|
|
|
$
|
19,013
|
|
vs prior year
quarter
|
(10)
|
%
|
|
(7)
|
%
|
|
33
|
%
|
|
24
|
%
|
|
28
|
%
|
|
35
|
%
|
|
—
|
%
|
|
(5)
|
%
|
|
(4)
|
%
|
|
(5)
|
%
|
|
(4)
|
%
|
|
**
|
|
|
**
|
|
|
**
|
|
|
**
|
|
Exchange rate effect
(2)
|
$
|
391
|
|
|
$
|
1,063
|
|
|
$
|
879
|
|
|
$
|
442
|
|
|
$
|
290
|
|
|
$
|
(474)
|
|
|
$
|
(212)
|
|
|
$
|
(253)
|
|
|
$
|
(410)
|
|
|
$
|
(644)
|
|
|
$
|
(628)
|
|
|
$
|
(331)
|
|
|
$
|
(105)
|
|
|
$
|
676
|
|
|
$
|
959
|
|
GMV at FX-Neutral
(3)
|
$
|
19,534
|
|
|
$
|
21,524
|
|
|
$
|
23,248
|
|
|
$
|
22,688
|
|
|
$
|
21,808
|
|
|
$
|
24,723
|
|
|
$
|
18,343
|
|
|
$
|
18,938
|
|
|
$
|
17,673
|
|
|
$
|
18,664
|
|
|
$
|
18,794
|
|
|
$
|
19,968
|
|
|
$
|
18,141
|
|
|
$
|
18,269
|
|
|
$
|
18,054
|
|
vs prior year
quarter
|
(12)
|
%
|
|
(11)
|
%
|
|
28
|
%
|
|
21
|
%
|
|
26
|
%
|
|
37
|
%
|
|
1
|
%
|
|
(4)
|
%
|
|
(2)
|
%
|
|
(1)
|
%
|
|
(1)
|
%
|
|
**
|
|
|
**
|
|
|
**
|
|
|
**
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
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|
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|
|
|
|
|
|
|
|
|
|
|
|
|
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|
|
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(1)
|
Gross Merchandise
Volume (GMV) consists of the total value of all paid transactions
between users on our platforms during the applicable period
inclusive of shipping fees and taxes.
|
(2)
|
We define exchange
rate effect as the year-over-year impact of foreign currency
movements using prior period foreign currency rates applied to
current year transactional currency amounts.
|
(3)
|
We define FX-Neutral
GMV as GMV minus the exchange rate effect. We define the non-GAAP
financial measures of FX-Neutral net revenues as net revenues minus
the exchange rate effect.
|
**
|
Growth rates for the
period excluded as 2017 GMV numbers have not been recast and
provided.
|
|
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SOURCE eBay Inc.