8-KRegulation FDExhibits & Filings

EBAY INC 8-K Report, Regulation FD Disclosure (Apr 8, 2020)

Filed April 8, 2020For Securities:EBAY

Summary

eBay Inc. (EBAY) filed an 8-K on April 8, 2020, primarily to provide investors with unaudited consolidated financial statements adjusted for the sale of its StubHub business. The sale, completed on February 13, 2020, for $4.05 billion in cash (subject to adjustments), represents a significant strategic divestiture for eBay. The company is presenting these adjusted financial statements, including non-GAAP measures, to offer a clearer view of its ongoing financial performance without the impact of StubHub. These adjusted financials cover the eight consecutive fiscal quarters ended December 31, 2019, and StubHub's historical results will be reflected as discontinued operations. Investors should review these statements alongside eBay's previously filed GAAP financial statements to fully understand the company's financial position and performance trends post-divestiture. This filing aims to enhance transparency and aid in the evaluation of eBay's financial trajectory.

Key Highlights

  • 1eBay has completed the sale of its StubHub business for $4.05 billion in cash, subject to closing adjustments.
  • 2The filing provides unaudited consolidated financial statements adjusted to reflect the StubHub divestiture.
  • 3StubHub's historical financial results will be reported as discontinued operations starting in Q1 2020.
  • 4The adjusted financial statements cover the eight quarters ending December 31, 2019.
  • 5eBay is presenting certain non-GAAP financial measures to assist investors in evaluating performance.
  • 6The information furnished is for informational purposes and not deemed 'filed' under Section 18 of the Exchange Act.
  • 7The filing includes Exhibit 99.1, containing the unaudited consolidated financial statements.

Frequently Asked Questions

The main purpose of this 8-K filing is to provide investors with unaudited consolidated financial statements that have been adjusted to reflect the completed sale of eBay's StubHub business and to present certain non-GAAP measures for performance evaluation.

eBay sold its StubHub business for a purchase price of $4.05 billion in cash, which was subject to certain adjustments related to indebtedness, cash, working capital, and transaction expenses at the time of closing.

StubHub's historical financial results, for periods prior to the sale, will be reflected in eBay's consolidated financial statements as discontinued operations beginning in the first quarter of 2020.

The unaudited consolidated financial statements included in this filing are derived from eBay's consolidated financial statements for the eight consecutive fiscal quarters ended December 31, 2019, and have been adjusted to reflect the StubHub transaction.