eBay: This Story Is Getting Tougher

Sep. 19, 2022 3:48 PM ETeBay Inc. (EBAY)16 Comments
Gary Alexander profile picture
Gary Alexander


  • eBay has continued to see declining GMV and revenue trends, driven by a drop in consumer spending.
  • The company has doubled down on its collectibles niche, acquiring a TCG company and opening a new physical vault.
  • With declining margins and cash flow, the company's capital returns may also have to slow down.
  • Already down 40% year to date, there are a few catalysts that can spark a rebound for eBay.
  • Looking for more investing ideas like this one? Get them exclusively at Daily Tech Download. Learn More »



Very few tech companies have been able to prove that they have an extended shelf life, and unfortunately, it seems that eBay (NASDAQ:EBAY) is not one of them. The internet auction site, one of the earliest internet crazes to spring

Data by YCharts

eBay GMV trends

eBay GMV trends (eBay Q2 earnings deck)

eBay revenue trends

eBay revenue trends (eBay Q2 earnings deck)

eBay expenses

eBay expenses (eBay Q2 earnings deck)

eBay operating margins

eBay operating margins (eBay Q2 earnings deck)

eBay capital returns

eBay capital returns (eBay Q2 earnings deck)

eBay FCF

eBay FCF (eBay Q2 earnings deck)

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This article was written by

Gary Alexander profile picture
With combined experience of covering technology companies on Wall Street and working in Silicon Valley, and serving as an outside adviser to several seed-round startups, Gary Alexander has exposure to many of the themes shaping the industry today. He has been a regular contributor on Seeking Alpha since 2017. He has been quoted in many web publications and his articles are syndicated to company pages in popular trading apps like Robinhood.

Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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