eBay raises outlook after better than expected Q2
29 Jul 2020
eBay Inc., for its second quarter ended June 30, 2020 reported revenue of 2.9 billion dollars, up 18 percent on an as-reported basis and up 21 percent on a foreign exchange (FX) neutral basis. The company expects net revenue between 2.64 billion and 2.71 billion dollars, representing Organic FX-Neutral growth of 14 percent to 17 percent, with GAAP earnings per diluted share in the range of 58 cents to 64 cents and non-GAAP earnings per diluted share in the range of 81 cents to 87 cents. For the full year, the company expects net revenue between 10.56 billion dollars and 10.75 billion dollars, representing organic FX-Neutral growth of 12 percent to 14 percent, with GAAP earnings per diluted share in the range of 2.85 dollars to 3 dollars and non-GAAP earnings per diluted share in the range of 3.47 dollars to 3.59 dollars.
“Our team’s focus on supporting small businesses and communities during a period of heightened need allowed us to re-engage our existing buyers and sellers while introducing approximately 8 million new customers to our platform during the quarter,” said Jamie Iannone, Chief Executive Officer of eBay in a statement, adding, “This contributed to a very strong second quarter, ahead of expectations.”
The company said, annual active buyers grew by 5 percent, adding approximately 8 million buyers in the quarter, for a total of 182 million global active buyers, while gross merchandise volume (GMV) was 27.1 billion dollars, up 26 percent on reported basis and 29 percent on a FX-Neutral basis. Marketplace platforms delivered 2.7 billion dollars of revenue, up 24 percent reported and 26 percent on a FX-Neutral basis, while Classifieds platforms delivered revenue of 201 million dollars, down 26 percent on reported basis and 24 percent on a FX-Neutral basis. The company added that GAAP net income was 740 million dollars or 1.04 dollars per diluted share and non-GAAP net income was 770 million dollars or 1.08 dollars per diluted share.
Picture:eBay press room