eBay (NASDAQ: EBAY) once again surprised Wall Street on Tuesday by reporting stronger-than-expected earnings results in the first quarter. Income, on an adjusted basis, grew 26% to 67 cents per share, 4 cents higher than what the Street anticipated.
On a reported basis, net income grew to 57 cents per share from 40 cents per share in the comparable year-over-year quarter.
Despite a 4% slip in gross merchandise volume, revenue increased 2% to $2.6 billion. Analysts had projected Q1 revenues of $2.58 billion. In the quarter, eBay grew global active buyers by 4% across its platforms to 180 million.
Following the announcement, EBAY shares jumped 6% during after-market trading on Tuesday. eBay stock has fallen 13% in the trailing 52 weeks.
The e-commerce giant has recently come under fire for its underperforming units – online ticket sales platform StubHub and Classified Ads. Earlier this year, activist investor groups Elliott Management and Starboard Value had asked eBay to consider divesting both the platforms.
READ: 4 THINGS YOU NEED TO KNOW AHEAD OF AMAZON’S Q1 RESULTS
While the San Jose, California-based firm had last month agreed to certain other demands set by the investment groups including the appointment of two independent directors, the company is yet to respond on what it plans to do with these two units.
Outlook raised
Buoyed by the strong first-quarter results, eBay raised its 2019 revenue and EPS guidance. The company now expects full-year net revenue between $10.83 billion and $10.93 billion. GAAP EPS from continuing operations is projected in the range of $1.94 – $2.04. Excluding one time costs, this is expected to be in the range of $2.64 – $2.70.
For the second quarter, eBay expects net revenue between $2.64 billion and $2.69 billion. GAAP EPS is projected in the range of $0.41 – $0.45 and non-GAAP EPS in the range of $0.61 – $0.63.
Get access to timely and accurate verbatim transcripts that are published within hours of the event.
Most Popular
CCL Earnings: Highlights of Carnival Corporation’s Q4 2025 results
Cruise operator Carnival Corporation & plc (NYSE: CCL) on Friday reported an increase in revenue and adjusted earnings for the fourth quarter of fiscal 2025. Earnings topped analysts' expectations. Revenues
Lamb Weston (LW) Q2 2026 Earnings: Key financials and quarterly highlights
Lamb Weston Holdings, Inc. (NYSE: LW) reported its second quarter 2026 earnings results today. Net sales inched up 1% year-over-year to $1.62 billion. Net sales at constant currency remained flat.
Paychex reports higher Q2 FY26 revenue and earnings; EPS beats estimates
Paychex Inc. (NASDAQ: PAYX) on Friday reported stronger-than-expected adjusted earnings for the second quarter of fiscal 2026. Revenues grew 18% year-over-year. The Rochester-based human capital management solutions provider reported revenues
Comments