eBay Reports $3.1 Billion Q2 Revenue and Finalizes Depop Deal

eBay Inc. reported second-quarter revenue of $3.1 billion, marking a 15% increase and exceeding analyst expectations with a profit of $1.60 per share. The company provided a forecast for the period ending in September, projecting revenue between $3.07 billion and $3.12 billion and profit of up to $1.42 per share.

As part of its growth strategy to counter competition from Vinted, the company finalized the acquisition of the second-hand clothing marketplace Depop. The final purchase price was $1.4 billion, which is $200 million higher than the $1.2 billion initially announced. Chief Executive Officer Jamie Iannone stated that Depop's buyer base expanded from 7 million to 9 million since the acquisition was announced in February.

Beyond financial performance, the company recently settled harassment campaign claims for $55.7 million. eBay also maintained its independence by rejecting an unsolicited $56 billion takeover bid from GameStop Corp. CEO Ryan Cohen.