For the second quarter, eBay exceeded analyst estimates as revenues, earnings and gross merchandise volume all advanced.
Net income from continuing operations was $552 million, or $1.21 per diluted share, versus $365 million, or 78 cents per diluted share, in the year-prior quarter. Adjusted for one-time events, net income was $727 million, or $1.60 per diluted share, versus $640 million, or $1.36 per diluted share, in the year-earlier period, the company reported.
A MarketBeat-published analyst consensus estimate called for earnings per adjusted diluted share of $1.50 and revenue of $3.01 billion.
Net revenue was $3.13 billion versus $2.73 billion in the year-previous quarter. Income from operations was $676 million versus $479 million in the year-before period.
Gross merchandise volume was $22.4 billion, up 15% on an as-reported basis and 14% on a foreign-exchange-neutral basis, according to eBay.
In terms of guidance, eBay expects third-quarterrevenue of $3.07 billion to $3.12 billion and adjusted earnings per share of $1.36 to $1.42.
Highlights of the quarter included the completion of eBay’s Depop acquisition, expanding the company’s position in the resale market, and gains at eBay Live.
Jamie Iannone, eBay CEO, said: “eBay’s second quarter delivered meaningful, broad-based momentum driven by continued innovation and focused execution against our strategic roadmap. This quarter once again demonstrated our ability to focus on our strategic priorities while still delivering strong growth in operating income and EPS.”
