Nasdaq ebay12/1/2023 During the last few months, we have taken major steps forward with our fitment capabilities. Trust in our motors, parts and accessories category is most reliant on equipement for ensuring the compatibility of auto parts with a specific vehicle. Those investments paid dividends in Q4 and with positive year-over-year GMV growth and the biggest sales week ever for refurbished goods during Cyber Week. We dramatically improved trust in our refurbished offering by introducing warranties and half of returns, which attracted more brand and new categories to our marketplace. In aggregate, our luxury focused categories have grown at roughly double-digit CAGR since Q4 of 2019, proving these investments have been highly effective. We have observed notable turnarounds in GMV growth since we launched authentication, improved the product experience and grew awareness to the great inventory in these categories. Authenticity Guarantee enables trust in our luxury categories like watches, sneakers, handbags and fine jewelry. Establishing a game changing level of trust between sellers and buyers has been an important driver of the momentum in our focus categories. Focus categories grew more than seven points faster than the rest of our marketplace during Q4, which was two points faster than the prior quarter. Our focused category strategy was a major component of our strong financial performance during the fourth quarter. Non-GAAP earnings per share for the quarter were $1.07, up 2% year-over-year. We delivered an operating margin of close to 30%, while making critical investments in product and marketing to support our long-term growth strategy. And we balanced our investments in innovation with prudent cost discipline to establish a strong foundation for sustainable profitable growth for many years to come. We expanded our financial services portfolio by adding FX conversion new forms of payments like Klarna and Afterpay, faster debit card payouts and a digital wallet. Our advertising growth accelerated as we scaled our three newer Promoted Listings products, optimize performance and automated more elements of campaigns. We retired legacy technology, simplified the architecture of our core services and improved our tech velocity. All information in this presentation is as of February 22, 2023, and we do not intend and undertake no duty to update this information. You should not rely on any forward-looking statements. You can find more information about risks, uncertainties and other factors that could affect our operating results in our most recent periodic reports on Form 10-K, Form 10-Q and our earnings release from earlier today. Our actual results may differ materially from our forecast for a variety of reasons. These forward-looking statements involve known and unknown risks and uncertainties. Additionally, all growth rates noted in our prepared remarks will reflect FX neutral year-over-year comparisons, unless indicated otherwise.ĭuring this conference call, management will make forward-looking statements, including, without limitation, statements regarding our future performance and expected financial results. You can find the reconciliation of these measures to the nearest comparable GAAP measures in our accompanying slide presentation. Before we begin, I'd like to remind you that during this conference call, we will discuss certain non-GAAP measures related to our performance. We're providing a slide presentation to accompany Jamie's and Steve's commentary during the call, which is available through the Investor Relations section of the eBay website at. Joining me today on the call are Jamie Iannone, our Chief Executive Officer and Steve Priest, our Chief Financial Officer. Thank you for joining us for eBay's fourth quarter 2022 earnings conference call. John Egbert, Senior Director of Investor Relations. It is now my pleasure to turn the call over to Mr. After the speakers' remarks, there will be a question-and-answer session. All lines have been placed on mute to prevent any background noise. At this time, I would like to welcome everyone to the eBay Fourth Quarter Earnings Conference Call. My name is Brent, and I will be your conference operator today. Operator: Ladies and gentlemen, thank you for standing by. (NASDAQ: EBAY) Q4 2022 Earnings Call Transcript February 22, 2023
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