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eBay Inc. Reports Better Than Expected Second Quarter 2021 Results ebay eBay Korea business reported as discontinued operations • Revenue of $ 2.7 billion , up 14 % on an as - reported basis and up 11 % on an FX - Neutral basis ● Gross Merchandise Volume of $ 22.1 billion , down 7 % on an as - reported basis and down 11 % on an FX - Neutral basis Exhibit 99.1 GAAP and Non - GAAP EPS per diluted share of $ 0.43 and $ 0.99 , respectively , on a continuing operations basis GAAP and Non - GAAP operating margin of 27.4 % and 32.8 % , respectively Returned $ 1.6 billion to shareholders in Q2 , including $ 1.5 billion of share repurchases and $ 121 million paid in cash dividends ● • Announced an agreement to sell 80.01 % of eBay Korea business to Emart for approximately $ 3 billion Completed the sale of the Classifieds business to Adevinta on June 24th for $ 13.3 billion , including $ 2.5 billion in cash and approximately 540 million shares of Adevinta stock ( 44 % ownership ) Entered into an agreement to sell approximately 135 million shares of eBay's Adevinta stock to Permira for over $ 2.4 billion , reducing our ownership of Adevinta to 33 % Board of Directors expands share repurchase authorization by an additional $ 3 billion San Jose , California , August 11 , 2021 - eBay Inc. ( Nasdaq : EBAY ) , a global commerce leader that connects millions of buyers and sellers around the world , today reported financial results for its second quarter ended June 30 , 2021 . " Today I am pleased to announce another strong quarter . In Q2 , on an apples - to - apples basis , all key business metrics met or exceeded expectations and revenue growth was driven by the acceleration in our payments migration and growth in advertising , " said Jamie lannone , Chief Executive Officer at eBay . " During the quarter , we hit several important milestones in our ongoing transformation , including the transition of eBay's Classifieds business - a deal that has already delivered exceptional shareholder value - and the announcement of the sale of our Korean business . We are simplifying our portfolio and growing our core while delivering significant shareholder value . " We remain relentlessly focused on accelerating our product innovation by harnessing the power of next - gen technology and creating a more seamless experience for sellers , " continued lannone . " We are delivering innovative category experiences for buyers and quickly evolving in our pursuit to be the best global marketplace to sell and buy . " Second Quarter Financial Highlights Revenue was $ 2.7 billion , up 14 % on an as - reported basis and up 11 % on a foreign exchange ( FX ) neutral basis . Gross merchandise volume ( GMV ) was $ 22.1 billion , down 7 % on an as - reported basis and down 11 % on an FX Neutral basis . GAAP net income from continuing operations was $ 294 million , or $ 0.43 per diluted share . Non - GAAP net income from continuing operations was $ 675 million , or $ 0.99 per diluted share . Generated $ 1.0 billion of operating cash flow and $ 910 million of free cash flow from continuing operations . Annual active buyers declined by 2 % , for a total of 159 million global active buyers . Annual active sellers grew by 5 % , for a total of 19 million global active sellers . ( 1 ( 1 ) Announced pricing of $ 2.5 billion senior unsecured notes offering on May 3 , 2021 . Background on the Presentation of Results On June 24 , 2021 , the company announced it reached an agreement for the purchase by Emart of eBay's Korea business and has since determined that the business meets the discontinued operations accounting criteria . Recast historical financial statements were published in a Form 8 - K on July 13 , 2021 . To aid in the comparison to previously provided financial guidance , below is a revised version of the April 28 , 2021 guidance metrics , reflecting the exclusion of the Korean business .