eBay Inc. (NASDAQ:EBAY) Q2 2019 Earnings Conference Call - Final Transcript
Jul 17, 2019 • 05:00 pm ET
active buyer growth and we continue to scale ads and payments.
In addition, we drilled efficiency to fund our investments while making progress on our portfolio review. For the quarter, total GMV was flat, revenue was up 4% while our active buyer base grew 4% to $182 million. Underlying these results GMV on our Marketplace platform is down 1%; StubHub volume was up 6%; and our Classified platform grew revenue at 12%.
We also returned $1.6 billion in capital to investors through share repurchases and dividends. Scott will go into more detail on our financial results shortly. First, let me provide some context on our core business, we've been reducing and redeploying low ROI marketing spend resulting in less GMV in the short term, but stable sold item and active buyer growth, although we've reduced certain types of incentives we've maintained our focus on driving healthy customer growth while evolving our brand. We're seeing improvements in buyer acquisition driven by higher conversion of new and lapsed customers in part due to product enhancements and also for more targeted marketing and promotion. We have effective levers to acquire buyers and are expanding our effort to drive frequency and reduce churn.
In Q2 we improve the buyer experience by increasing the number of ways, buyers can discover value and unique selection. By leveraging data on existing listings, we launched new pages that transformed previously unstructured listings into a more intuitive set of product results. We also recently released our Brand Outlet, an experience that aggregates products from top consumer brands, all with fast and free shipping. Following changes to our returns experience introduced last year more than one-third of our U.S. buyers are now able to instantly receive labels and track their returns and we started rolling this out to more major markets in Q2.
We also introduced significant seller improvements including offers to buyers Buy Again and Trending in Your Interests. We extended seller protection by making it easier to identify and take action against abusive buyers. We dramatically simplified volume pricing, offering more ways for sellers to offer discounts and we provided better ways for sellers to contribute more complete structured product information to help buyers find their listings, while building new capabilities to drive conversion by better leveraging this expanded catalog.
One emerging challenge for our small business sellers in the U.S. is the rapidly evolving landscape for internet sales tax. At the start of the year, only a handful of states had active legislation requiring marketplaces to collect sales tax. By the end of the year, that number will grow to more than 30 states and it will cover the majority of U.S. GMV. In Q2, this impacted the U.S. business by more than one point and we're taking active measures to mitigate this challenge.
However, this headwind is likely to further pressure U.S. results until we lap a fully rolled out internet sales tax landscape. Looking at our international core markets overall performance was relatively stable with