Ebay Inc. Stock Price, News & Analysis

eBay has appointed Julie Loeger as its new Global Chief Growth Officer, starting in January 2021. This newly created role will oversee the Global Marketing and Global Customer Experience teams to enhance customer acquisition and retention strategies. Loeger brings over 30 years of experience from Discover Financial Services and Anheuser Busch. CEO Jamie Iannone praised her track record in driving customer-focused innovation. eBay aims to leverage her expertise for its vision of becoming the leading global marketplace.

eBay has launched the Up & Running Grants program, committing over $500,000 to support small businesses during the holiday season. The initiative will provide 50 small business sellers with grant packages of $10,000, including $8,000 cash and $2,000 in eBay credits. Applications are open from Nov. 23 to Dec. 11, 2020, aiming to empower small businesses to thrive online. eBay collaborates with Hello Alice to facilitate mentorship and resources for all applicants.

eBay has launched The Holiday Marketplace, a virtual platform showcasing small businesses and unique gifts, responding to the cancellation of many in-person holiday markets due to COVID-19. This initiative supports small merchants during a crucial selling season, allowing shoppers to discover items from various vendors, including beauty products, sports cards, and vintage toys. The marketplace highlights nine selected businesses and encourages shoppers to connect with sellers through social media. eBay has previously pledged $100 million to assist small businesses transition online.

eBay has launched its first-ever drive-thru 'Authentication Station' in East Hollywood, allowing customers to evaluate and sell sneakers, watches, and collectibles safely from their cars. This initiative coincides with the introduction of eBay's Authenticity Guarantee, which uses independent experts to verify items. The drive-thru is operational from November 19 to 21, 2020, and is aimed at enhancing user experience ahead of the holiday season. eBay sold nearly six million sneakers in 2019 and over two million watches, making it a leading platform in these categories.

eBay Inc. (Nasdaq: EBAY) reported its Q3 2020 results with significant growth across key metrics. Active buyers increased by 5% to 183 million, and gross merchandise volume (GMV) rose by 22% to $25.0 billion. Revenue reached $2.6 billion, up 25%. GAAP net income rose to $621 million, or $0.88 per share. The company also successfully completed a $3.0 billion share repurchase plan. Looking ahead, eBay raised its FY 2020 revenue guidance to $10.04 - $10.11 billion. A cash dividend of $0.16 per share was declared, payable December 18, 2020.

eBay has announced the launch of a new destination for Certified Refurbished products, featuring exclusive inventory from popular brands such as De'Longhi and Razer. The initiative is aimed at meeting the growing demand for refurbished items, especially during the holiday season, offering savings of up to 50% and a two-year Allstate warranty. Research indicates that 60% of shoppers are open to gifting refurbished electronics this year. The program, which includes hassle-free returns and a money-back guarantee, aims to enhance customer confidence in purchasing refurbished goods.

eBay has expanded its Authenticity Guarantee service for sneaker sales, now authenticating all collectible sneakers priced over $100 in the U.S. The program launches this month, initially covering popular styles and brands, with plans to include all qualifying sales by early 2021. This follows the successful September launch for watches over $2,000. The initiative promotes consumer confidence and aims to attract top sneaker sellers, bolstered by the waiving of selling fees on sneakers of $100 or more.

eBay, in collaboration with renowned street artist Buff Monster, has launched the first-ever jumbo Melty Misfits card packs, featuring 20 new characters. Available from 10am PT today, collectors can find these packs and full boxes through eBay.com/StayMelty. Notable features include cards measuring 5x7 inches, rare sketch cards, and Golden Tickets that offer unique rewards. This launch follows an earlier release that sold out quickly, showcasing the popularity of Buff Monster's art.

During the third quarter of 2020, eBay announced a definitive agreement to transfer its Classifieds business to Adevinta. This transaction meets the criteria for held-for-sale accounting and will be reported as discontinued operations in eBay's financial statements from Q3 2020 onward. Historical financial results will be restated accordingly. Investors are advised to review the 8-K filing for detailed financial impacts and are cautioned about forward-looking statements regarding the transaction's completion and its potential benefits amidst uncertainties.