E-commerce firm eBay Inc. (NASDAQ: EBAY) on Wednesday reported flat earnings for the second quarter of 2022 when the company’s revenues decreased. However, both the top-line and earnings beat analysts’ estimates.
Adjusted earnings from continuing operations remained unchanged year-over-year at $0.99 per share, and topped expectations. On an unadjusted basis, it was a net loss from continuing operations of $536 million or $0.96 per share in the June quarter, compared to profit of $294 million or $0.43 per share in the same period of last year.
At $2.42 billion, second-quarter revenues were down 9% from the year-ago quarter. Market watchers were looking for a smaller topline number.
Check this space to read analysts/management’s comments on eBay’s Q2 earnings
eBay’s stock closed Wednesday’s regular trading higher and continued to gain during the extended session after the announcement.
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