eBay Inc. (NASDAQ:EBAY) Q2 2018 Earnings Conference Call - Final Transcript
Jul 18, 2018 • 05:00 pm ET
Good day, ladies and gentlemen. And welcome to the eBay Q2 2018 Earnings Call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session, and instructions will follow at that time. (Operator Instructions)
As a reminder, this conference is being recorded. I would now like to introduce your host for today's conference, Mr. Selim Freiha, Vice President of Investor Relations. You may begin Mr. Freiha.
Thank you, Operator. Good afternoon. Thank you for joining us. And welcome to eBay's earnings release conference call for the second quarter of 2018. Joining me today on the call are Devin Wenig, our President and Chief Executive Officer; and Scott Schenkel, our Chief Financial Officer.
We are providing a slide presentation to accompany Scott's commentary during the call. All revenue and GMV growth rates mentioned in Devin and Scott's remarks represent FX-Neutral year-over-year comparisons, unless they indicate otherwise.
This conference call is also being broadcast on the Internet, and both the presentation and call are available through the Investor Relations section of the eBay website at investors.ebayinc.com. You can visit our Investor Relations website for the latest company news and updates. In addition, an archive of the webcast will be accessible for 90 days through the same link.
Before we begin, I'd like to remind you that during the course of this conference call, we will discuss some non-GAAP measures related to our performance. You can find the reconciliation of these measures to the nearest comparable GAAP measures in the slide presentation accompanying this conference call.
(Forward-Looking Cautionary Statements)
With that, let me turn the call over to Devin.
Thanks, Selim, and good afternoon, everyone. In Q2, we continued to execute our strategy, improving the core eBay experience, investing in service and clarifying our brand, while pursuing significant opportunities in advertising and payments.
Total GMV was up 7% and revenue was up 6%, while active buyers grew 4%. With the addition of buyers from our recent acquisition in Japan, we now have 175 million active buyers. GMV in our Marketplace platform grew at 7% year on year with U.S. Marketplace GMV growing at 6% while international GMV grew 7%.
Our StubHub platforms grew volume at 5% and our Classified platforms grew revenue at 10%. Finally, we repurchased nearly $1 billion -- we returned nearly $1 billion to our shareholders through our share repurchase program and we closed our acquisition in Japan.
While we delivered strong earnings growth this quarter, we encountered some revenue headwinds from foreign exchange and weaker StubHub event landscape, which will put pressure on our revenue for the second half. In addition, while core Marketplace GMV growth remains steady we do not expect some of the key initiatives to deliver GMV acceleration until later in the year. None of this changes our strategy and approach, and we expect to deliver core GMV growth acceleration in the second half of 2018.
We are focusing to an even greater extent on initiatives that will have the greatest