eBay Inc. (NASDAQ:EBAY) Q1 2019 Earnings Conference Call Transcript

Apr 23, 2019 • 05:00 pm ET

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eBay Inc. (NASDAQ:EBAY) Q1 2019 Earnings Conference Call Transcript

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Presentation
Operator
Operator

Good day, ladies and gentlemen and welcome to the eBay Q1 2019 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. Joe Billante, Vice President of Investor Relations. Mr. Billante, you may begin.

Executive
Joe Billante

Thank you. Good afternoon, and thank you for joining us, and welcome to eBay's earnings release conference call for the first quarter of 2019. Joining me today on the call are Devin Wenig, our President and Chief Executive Officer; and Scott Schenkel, our Chief Financial Officer. We're 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 at least three months 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.

In addition, management will make forward-looking statements that are based on our current expectations, forecasts, and assumptions and involve risks and uncertainties. These statements include, but are not limited, to statements regarding the future performance of eBay Inc. and its consolidated subsidiaries, including the expected financial results for the second quarter and full year 2019 and the future growth of our business. Our actual results may differ materially from those discussed in this call for a variety of reasons.

You can find more information about risks, uncertainties and other factors that could affect our operating results in our most recent Annual Report on Form 10-K and subsequent quarterly reports on Form 10-Q, copies of which may be obtained by visiting the Company's Investor Relations website at investors.ebayinc.com or the SEC's website at sec.gov. You should not rely on any forward-looking statements. All information in this presentation is as of April 23, 2019, and we do not intend and undertake no duty to update this information.

With that, let me turn the call over to Devin.

Executive
Devin Wenig

Thanks. And before I start, let me just publicly thank Selim Freiha, who has been our Head of Investor Relations and done a great job over the last couple of years and welcome Joe. We delivered a solid first quarter driven by healthy buyer growth, strong advertising performance and disciplined cost control. GMV declined slightly year-over-year, which was in line with our short-term expectations as we