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The company's acquisition of Depop from Etsy closed at $1.4 billion — $200 million above the originally announced price
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EBay raised its full-year outlook on Wednesday after reporting second-quarter revenue and earnings that topped analyst expectations, even as its acquisition of fashion resale platform Depop closed at a higher price than originally announced.
The San Jose, California-based company posted second-quarter revenue of $3.13 billion, up 15% year-over-year, and gross merchandise volume of $22.4 billion, also up 15%. Adjusted earnings came in at $1.60 per diluted share. Analysts had expected adjusted earnings of $1.51 per share on revenue of $3.02 billion and GMV of $21.56 billion, according to the Wall Street Journal.
