eBay Announces Change to Gross Merchandise Volume Definition and Releases Updated Historical Metrics
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.
eBay Inc. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Unaudited Supplemental Operating Data — Gross Merchandise Volume (GMV) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(In Millions, Except Percentages) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sep 30, | Jun 30, | Mar 31, | Dec 31, | Sep 30, | Jun 30, | Mar 31, | Dec 31, | Sep 30, | Jun 30, | Mar 31, | Dec 31, | Sep 30, | Jun 30, | Mar 31, | ||||||||||||||||||||||||||||||||||||||||||||||
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) | % | ** | ** | ** | ** | ||||||||||||||||||||||||||||||||||
(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. |
SOURCE eBay Inc
