E-commerce giant eBay Inc. (NASDAQ: EBAY) on Wednesday reported flat earnings for the second quarter of 2021 when revenues increased in double digits. The top-line came in below the market’s predictions, while earnings beat.
Net income from continuing operations was $294 million or $0.43 per share in the June quarter, compared to $689 million or $0.97 per share in the same period of last year. Adjusted earnings from continuing operations remained unchanged year-over-year at $0.99 per share but topped expectations.
At $2.67 billion, revenues were up 14% from the year-ago quarter. Market watchers were looking for faster topline growth. There was a 5% increase in the number of annual active buyers.
eBay’s stock closed Wednesday’s regular trading higher but declined during the extended session, soon after the announcement.
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