eBay Announces Change to Gross Merchandise Volume Definition and Releases Updated Historical Metrics

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.


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,
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)

%


**



**



**



**































































(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

Editor's note:

This article was not sponsored or supported by a third party.
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