eBay Inc. (NASDAQ: EBAY) reported its second-quarter financial results before the markets opened Thursday. The company had $0.76 in earnings per share (EPS) on $4.4 billion in revenue. That compared to Thomson Reuters consensus estimates of $0.73 in EPS on $4.49 billion in revenue. In the second quarter of the previous year, eBay posted EPS of $0.69 and revenue of $4.37 billion.
The company generated $1.1 billion in operating cash flow from continuing operations and $688 million in free cash flow from continuing operations during the second quarter of 2015.
At the end of the second quarter, cash and cash equivalents and non-equity investments totaled $15.1 billion.
eBay and Paypal will separate on Friday, July 17.
PayPal expects net revenues to grow 15% to 18% on an foreign exchange-neutral basis, with EPS in the range of $1.23 to $1.27.
John Donahoe, president and CEO of eBay, said:
We are very pleased with our overall Q2 performance. PayPal and eBay both delivered strong Q2 results and have strong momentum. Dan, Devin and their respective teams are executing well and are prepared to create the next great chapter for PayPal and eBay.
Dan Schulman, PayPal’s president, said:
We continue to gain share globally in an incredibly dynamic market and I’m especially proud of our deepening engagement with our customers. As an independent company we will continue to lead the transformation of the payments industry by giving people better ways to move and manage their money. I’d like to thank Devin and his team at eBay, who will continue to be key partners for PayPal in the future.
Shares of eBay rose about 5% to a new multiyear high of $66.71 Thursday morning, brushing past the consensus analyst price target of $64.36. The stock has a 52-week low of $46.34.
ALSO READ: 5 Dividend Stocks That Give You Consistent Raises
In 20 Years, I Haven’t Seen A Cash Back Card This Good
After two decades of reviewing financial products I haven’t seen anything like this. Credit card companies are at war, handing out free rewards and benefits to win the best customers.
A good cash back card can be worth thousands of dollars a year in free money, not to mention other perks like travel, insurance, and access to fancy lounges.
Our top pick today pays up to 5% cash back, a $200 bonus on top, and $0 annual fee. Click here to apply before they stop offering rewards this generous.
Flywheel Publishing has partnered with CardRatings for our coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.