Summary by Futu AI
eBay Inc. reported Q2 2024 net revenues of $2.57 billion, up 1% year-over-year, with operating margin improving to 21.3% from 20.4%. The company's GMV increased 1% to $18.42 billion, while take rate slightly improved to 13.96%. Operating income rose to $549 million from $518 million in Q2 2023.On May 29, 2024, eBay completed a major transaction involving its Adevinta shares, selling 227 million shares for $2.4 billion in cash and exchanging 177 million shares for an 18.3% stake in Aurelia valued at $1.9 billion. The company recorded a realized gain of $84 million from the Adevinta sale in Q2. The quarter also saw continued investment in focus categories and expansion of promoted listings products.The company maintained strong liquidity with $6.3 billion in cash and investments as of June 30, 2024. During Q2, eBay repurchased $1.0 billion of common stock and paid $135 million in dividends. The Board declared a quarterly dividend of $0.27 per share payable in September 2024, demonstrating continued commitment to shareholder returns despite challenging macroeconomic conditions.
