eBay posts 2 percent rise in Q2 revenues

For the quarter to June 30, 2019, eBay Inc. reported revenue of of 2.7 billion dollars, up 2 percent on reported basis and 4 percent on a foreign exchange (FX) neutral basis, which the company said was primarily driven by gross merchandise volume (GMV) of 22.6 billion dollars, down 4 percent on reported basis and flat on a FX-Neutral basis. During the quarter, eBay delivered GAAP net income from continuing operations of 403 million dollars or 46 cents per diluted share and non-GAAP net income from continuing operations of 589 million dollars or 68 cents per diluted share.

"We remained focused on building our active buyer base, delivering outstanding customer experiences, and accelerating our growth initiatives in the second quarter," said Devin Wenig, President and CEO of eBay Inc. in a statement.

Highlights of eBay’s Q2 performance

In the second quarter, the company said, active buyers grew by 4 percent across its platforms, for a total of 182 million global active buyers. Underlying total eBay performance, the marketplace platforms delivered 2.2 billion dollars of revenue and 21.5 billion dollars of GMV.

Marketplace revenue growth was 1 percent on reported basis and 3 percent on FX-Neutral basis, and GMV was down 5 percent on reported basis and 1 percent on a FX-Neutral basis. StubHub platforms drove revenue of 264 million dollars, up 7 percent on both reported and FX-neutral basis and GMV of 1.1 billion dollars, was up 5 percent on reported basis and 6 percent on a FX-neutral basis. Classifieds platforms delivered revenue of 271 million dollars, up 5 percent on reported basis and 12 percent on a FX-neutral basis.

eBay reveals outlook for full year and Q3

For its third quarter, the company expects net revenue between 2.61 billion dollars and 2.66 billion dollars, representing organic FX-neutral growth of 1 percent to 3 percent, with GAAP earnings per diluted share from continuing operations in the range of 40 cents to 44 cents and non-GAAP earnings per diluted share from continuing operations in the range of 62 cents to 65 cents.

For full year, the company expects net revenue between 10.75 billion dollars and 10.83 billion dollars, representing organic FX-neutral growth of 2 percent to 3 percent, with GAAP earnings per diluted share from continuing operations in the range of 1.97 dollars to 2.07 dollars and non-GAAP earnings per diluted share from continuing operations in the range of 2.70 dollars to 2.75 dollars.

eBay's board of directors has declared a cash dividend of 14 cents per share of the company's common stock payable on September 20, 2019 to shareholders of record as of September 3, 2019.

Picture:eBay press room

 

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