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EBay Q2 Adj. Profit Rises; Increases Full Year Guidance - Quick Facts

(RTTNews) - eBay Inc. (EBAY) reported second quarter non-GAAP earnings per share from continuing operations of $1.08 compared to $0.66, prior year. On average, 27 analysts polled by Thomson Reuters expected the company to report profit per share of $1.06, for the quarter. Analysts' estimates typically exclude special items.

Second quarter revenue was $2.9 billion, up 18% on an as-reported basis and up 21% on a foreign exchange neutral basis. Analysts expected revenue of $2.8 billion for the quarter. Annual active buyers grew by 5%, adding approximately 8 million buyers in the quarter, for a total of 182 million global active buyers.

Gross merchandise volume was $27.1 billion, up 26% on an as-reported basis and up 29% on a FX-Neutral basis, year on year.

For third quarter, the company projects net revenue between $2.64 billion and $2.71 billion, representing organic FX-neutral growth of 14% - 17%, with non-GAAP earnings per diluted share from continuing operations in the range of $0.81 - $0.87.

For full year 2020, the company expects net revenue between $10.56 billion and $10.75 billion, representing organic FX-neutral growth of 12% - 14%, with non-GAAP earnings per diluted share from continuing operations in the range of $3.47 - $3.59.

eBay's Board has declared a cash dividend of $0.16 per share of the company's common stock. The dividend is payable on September 18, 2020 to stockholders of record as of September 1, 2020.

Shares of eBay were down 4% after hours.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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