eBay Inc. (NASDAQ: EBAY) released second-quarter earnings after markets closed Wednesday. The firm said that it had $0.68 in earnings per share (EPS) and $2.7 billion in revenue, compared with consensus estimates that called for $0.62 in EPS and $2.68 billion in revenue. The same period from last year had $0.53 in EPS and $2.64 billion in revenue.
In the first quarter, eBay grew active buyers by 4% across its platforms, for a total of 182 million global active buyers. Underlying total eBay performance, the Marketplace platforms delivered $2.2 billion of revenue and $21.5 billion of gross merchandise volume (GMV).
Marketplace revenue growth was 1% on an as-reported basis and 3% on an FX-neutral basis and GMV was down 5% on an as-reported basis and down 1% on an FX-neutral basis.
Separately, StubHub platforms drove revenue of $264 million, 7% on both an as-reported and FX-neutral basis, and GMV of $1.1 billion, up 5% on an as-reported basis and up 6% on an FX-neutral basis. Classifieds platforms delivered revenue of $271 million, up 5% on an as-reported basis and up 12% on an FX-neutral basis.
Looking ahead to the third quarter, eBay expects to see EPS in the range of $0.62 to $0.65 and net revenue in the range of $2.61 billion to $2.66 billion. Consensus estimates are calling for $0.63 in EPS and $2.68 billion in revenue.
Devin Wenig, president and CEO of eBay, commented:
We remained focused on building our active buyer base, delivering outstanding customer experiences, and accelerating our growth initiatives in the second quarter. Managed payments continues to exceed expectations, while first party advertising is providing significant benefits to sellers, and new features are making our marketplace easier to use.
Shares of eBay closed at $39.03, with a 52-week range of $26.01 to $41.10. The stock has a consensus analyst price target of $40.04. Following the announcement, the stock was up about 4% at $40.60 in the after-hours trading session.
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