eBay Inc. (NASDAQ: EBAY) is slated to report third quarter 2019 earnings results on Wednesday, October 23 after the market closes. The company is estimated to report earnings of $0.64 per share on revenue of $2.64 billion. This compares to EPS of $0.56 on revenue of $2.65 billion reported last year.
The third quarter earnings report comes a month after CEO Devin Wenig stepped down from his position. Scott Schenkel is now the interim CEO and Andy Cring is the interim CFO.
eBay has been seeing sluggish revenue growth this year and this trend is likely to continue. The slow growth is expected to take a toll on earnings as well. However, the company is likely to see strong momentum from the payments and advertising businesses, which grew 24% and 130% respectively last quarter.
Instead of spending more to acquire new users, eBay has been focusing on its current user base. The company has been rolling out new features to increase the convenience of both buyers and sellers and improve engagement levels. It is worth noting how these strategies are benefiting the company and whether these increased investments have impacted earnings.
eBay also stated last month that the review for the sale of its StubHub and Classifieds businesses was ongoing with the assistance of Goldman Sachs. Updates on this topic are worth watching. eBay continues to face stiff competition from major players like Amazon (NYSE: AMZN) and Walmart (NYSE: WMT) and this remains a cause of concern.
In the second quarter of 2019, eBay beat revenue and earnings estimates. Revenues grew 2% to $2.7 billion while adjusted EPS increased 28% to $0.68.
For the full year of 2019, revenue, on an organic FX-neutral basis, is expected to grow 2-3%. GAAP EPS is expected to be $1.97-2.07 while adjusted EPS is expected to be $2.70-2.75.
Shares of eBay have gained 38% year-to-date. The stock was up 1% during afternoon hours on Monday.
Most Popular
LMT Earnings: A snapshot of Lockheed Martin’s Q1 2024 financial results
Aerospace company Lockheed Martin Corporation (NYSE: LMT) Tuesday reported lower earnings for the first quarter of 2024, despite an increase in sales. The company also reaffirmed its fiscal 2024 guidance.
General Motors (GM) Q1 2024 Earnings: Key financials and quarterly highlights
General Motors Co. (NYSE: GM) reported its first quarter 2024 earnings results today. Revenue increased 7.6% year-over-year to $43 billion. Net income attributable to stockholders increased 24.4% to $2.98 billion
GE Earnings: General Electric Q1 2024 adj. profit jumps on higher revenues
The General Electric Company (NYSE: GE), which became three separate companies after a recent split -- GE Aerospace, GE Venova, and GE Healthcare -- reported a sharp increase in adjusted
Comments