eBay Inc. (NASDAQ: EBAY) is set to report second quarter 2019 earnings results today after the closing bell. Analysts project earnings of $0.62 per share, reflecting an increase of nearly 17% year-over-year. Revenue is estimated to increase by 1.3% to $2.67 billion.
The top line results are expected to benefit from growth in active buyers as well as healthy momentum in the payments and advertising businesses. The company’s business model, which pushes costs to suppliers, is expected to help drive margins.
For the second quarter of 2019, eBay has guided for revenues in the range of $2.64 billion to $2.69 billion. GAAP EPS is expected to be $0.41-0.45 while adjusted EPS is expected to be $0.61-0.63.
(Watch this space for live earnings updates)
Alcoa (NYSE: AA), a leading manufacturer of aluminum products, will be releasing results for the second quarter in a short while from now. The company has been facing multiple challenges, including low demand and uncertainties from the US-China trade dispute.
The management has predicted that the global demand for aluminum will remain sluggish throughout the year. The oversupply of alumina in the Atlantic Basin remains a concern.
Analysts expect Alcoa to report a loss of $0.13 per share on revenue of $2.76 billion for the second quarter. In the year-ago quarter, the company had posted a profit of $1.52 per share on revenue of $3.58 billion. In three out of the four trailing quarters, the bottom line exceeded the market’s expectations.
For the first quarter, the company reported a wider loss as revenues declined about 10% year-over-year, hurt by lower aluminum prices.
Alcoa is one of the worst-performing Wall Street stocks that has been on a losing streak for the past two years. It lost about 22% in the last six months and 12% since last year. The stock traded notably lower during Wednesday’s regular session.
(this story will be updated shortly)
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