Net income was $402
million, or $0.46 per share, compared to $642 million, or $0.64 per share, in
the prior-year period. Adjusted EPS from continuing operations totaled $0.68,
beating forecasts of $0.62.
Global active
buyers totaled 182 million, up 4% from last year. Gross merchandise volume
(GMV) was $22.6 billion, down 4%.
The Marketplace platforms delivered $2.2 billion in revenue,
up 1% on a reported basis compared to the prior-year quarter. GMV dropped 5% on
a reported basis to $21.5 billion. StubHub platforms posted revenue of $264
million, up 7%, and GMV of $1.1 billion, up 5% on a reported basis. Classifieds
platforms delivered revenue of $271 million, up 5% on a reported basis.
eBay’s payments platform achieved over $270 million of GMV in the quarter, which reflects a quarter-over-quarter increase of 24%. In addition, over 940,000 sellers leveraged the company’s first-party advertising to promote over 250 million listings, yielding $89 million in revenue, which reflects a growth of over 130% year-over-year on a FX-Neutral basis.
For the third
quarter, eBay expects net revenue of $2.61 billion to $2.66 billion, reflecting
organic FX-neutral growth of 1-3%. GAAP EPS from continuing operations is
expected to be $0.40-0.44 while adjusted EPS from continuing operations is
estimated to be $0.62-0.65.
For full-year 2019,
the company expects net revenue of $10.75 billion to $10.83 billion, reflecting
organic FX-neutral growth of 2-3%. GAAP EPS from continuing operations is
expected to be $1.97-2.07 and adjusted EPS from continuing operations is
estimated to be $2.70-2.75.
eBay reached an agreement to sell its flash sale German business brands4friends. The company is also reviewing the value of StubHub and Classifieds in its portfolio to determine its best options for enhancing shareholder value.
eBay declared a cash dividend of $0.14 per common share, payable
on September 20, 2019 to shareholders of record as of September 3, 2019.
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