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eBay Inc EBAY Stock Quote

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Morningstar‘s Stock Analysis EBAY

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eBay's Turnaround Looks Underappreciated As Tech-Led Reimagination Continues To Bear Fruit

Sean Dunlop Equity Analyst

Business Strategy and Outlook

| Sean Dunlop |

With divestitures of Stubhub, eBay Classifieds, and Gmart largely in the rearview mirror, narrow-moat eBay's business looks remarkably similar to its genesis: a lively e-commerce platform connecting hundreds of millions of buyers and sellers worldwide, with an emphasis on used, liquidation, and refurbished goods. The firm's strategic pivot strikes us as a competitive necessity, with unsuccessful forays into logistics and first-party inventory, and auxiliary services seeing the bulk of business-to-consumer, or B2C, sales migrate toward larger peers with sprawling store footprints, scaled fulfillment networks, or extensive buyer and seller features. Nonetheless, the core eBay Marketplace business should have plenty of room to run, considering management's estimated $500 billion total addressable market for non-new, seasoned goods, and could benefit from swelling interest in resale markets and a broader rollout of the firm's focused category approach (targeting 50% of gross merchandise volume, or GMV, in those categories by 2025).

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Key Statistics EBAY

Company Profile EBAY

Business Description

eBay operates one of the largest e-commerce marketplaces in the world, with $87 billion in 2021 gross merchandise volume, or GMV, rendering the firm the sixth-largest global e-commerce company. eBay generates revenue from listing fees, advertising, revenue-sharing arrangements with service providers, and managed payments, with its platform connecting more than 142 million buyers and roughly 20 million sellers across almost 190 global markets at the end of 2021. eBay generates just north of 50% of its GMV in international markets, with a large presence in the U.K., Germany, and Australia.

Contact
2025 Hamilton Avenue
San Jose, CA, 95125
T +1 408 376-7108
Industry Internet Retail
Most Recent Earnings Jun 30, 2022
Fiscal Year End Dec 31, 2022
Employees 10,800

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