eBay Inc. (NASDAQ:EBAY) Q3 2019 Earnings Conference Call - Final Transcript

Oct 23, 2019 • 05:00 pm ET


eBay Inc. (NASDAQ:EBAY) Q3 2019 Earnings Conference Call - Final Transcript


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Ladies and gentlemen, thank you for standing by and welcome to the eBay Inc. Third Quarter 2019 Earnings Conference Call. [Operator Instructions]. I would now like to hand the conference over to your speaker today Mr. Joe Billante, VP of Investor Relations. Thank you. Please go ahead, sir.

Joe Billante

Thank you. Good afternoon. Thank you for joining us and welcome to eBay's earnings release conference call for the third quarter of 2019. Joining me today on the call are Scott Schenkel, our Interim Chief Executive Officer; and Andy Cring, our Interim Chief Financial Officer. We're providing a slide presentation to accompany Andy's commentary during the call, which is available through the Investor Relations section of the eBay website at investors.ebayinc.com.

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 a reconciliation of these measures to the nearest comparable GAAP measures in the slide presentation accompanying this conference call. Additionally, all revenue and GMV growth rates mentioned in Scott and Andy's remarks represent FX-neutral year-over-year comparisons, unless they indicate otherwise.

In this conference call, management will make forward-looking statements including, without limitation, statements regarding our future performance and expected financial results. These forward-looking statements involve known and unknown risks and uncertainties. And our actual results may differ materially from our forecast 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 periodic reports on Form 10-K and Form 10-Q in our earnings release from earlier today. You should not rely on any forward-looking statements. All information in this presentation is as of October 23, 2019 and we and we do not intend and undertake no duty to update this information.

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

Scott Schenkel

Thanks, Joe. Good afternoon, everyone. I'm excited to have the opportunity to take our company forward during this period of transition. In times of change, it is important to step back and make clearer assessment of where we are, confirm what does not change and identify what needs to be different.

Our value proposition remains clear. eBay is one of the world's largest global marketplaces, where consumers can shop unique inventory at great value. Sellers of all sizes have low-cost access to over 180 million buyers, with a partner that does not compete with them.

Our near-term priorities are unchanged. We are delivering our 2019 commitments, including our growth initiatives of advertising and payments; improving seller capabilities and growing the buyer base. In addition, we have completed an operating review and are implementing plans to expand margins. Lastly, we are executing a portfolio review to best position the company for the long term.

For 2020 and beyond, change is needed to improve the underlying health of the Marketplace's business. We are reassessing how to best deliver for our buyers and sellers and ensuring we match investments to