Stock Market News

eBay Beats Estimates, Analysts See ‘Solid’ Results Overall

2022.08.04 15:41

eBay Beats Estimates, Analysts See 'Solid' Results Overall
eBay Beats Estimates, Analysts See ‘Solid’ Results Overall

 

Shares of eBay (NASDAQ:EBAY) are slightly up in premarket trading after the e-commerce giant reported better-than-expected Q2 adjusted EPS and revenue.

The company reported second quarter adjusted EPS from continuing operations of 99c, topping the consensus estimates of 90c. Net revenue stood at $2.42 billion, beating the estimated $2.37 billion.

eBay reported Q2 gross merchandise volume of $18.55 billion, down 18% YoY, though above the expected $18.23 billion. The number of active buyers totaled 138 million in the quarter, short of the consensus projection of 142.3 million.

Looking ahead, eBay expects Q3 adjusted EPS from continuing operations in the range of 89c to 95c, while analysts were expecting 91c per share. Net revenue is expected to range between $2.29 billion and $2.37 billion, compared to analyst expectations of $2.3 billion.

For the full fiscal year, the company expects adjusted EPS from continuing operations in the range of $3.95 to $4.10, up from the previous forecast of $3.90 to $4.10, and compared to the estimated $3.99 per share. eBay expects FY net revenue in the range of $9.6 billion to $9.9 billion, while analysts were estimating $9.67 billion.

The e-commerce company announced a cash dividend of 22c per share.

“EBay is in a stronger position today than it was when we entered the pandemic. Despite rising inflation, and an uncertain macro environment, we remain on track to deliver on our 2022 commitments,” CEO Jamie Iannone said.

A Piper Sandler analyst slashed the price target to $59 from $63 despite the “solid” results delivered by eBay. He said the company has continued to deliver progress “on focus categories.”

“Plus, payments remains another opportunity and advertising continues to outpace GMV growth. All in, few surprises and a quarter characterized by methodical execution,” the analyst added.

A Susquehanna analyst is less bullish than his colleague at Piper Sandler.

“The 2022 outlook remained unchanged, as EBAY continues to focus on its strategic pivot. We believe the revamped strategy will take a while to play out and thus maintain our Neutral,” the analyst wrote in a client note.

 

eBay Beats Estimates, Analysts See ‘Solid’ Results Overall

Related Articles

Leave a Reply

Back to top button
bitcoin
Bitcoin (BTC) $ 97,476.12 0.52%
ethereum
Ethereum (ETH) $ 3,359.16 1.70%
tether
Tether (USDT) $ 1.00 0.16%
solana
Solana (SOL) $ 251.93 1.57%
bnb
BNB (BNB) $ 660.24 0.56%
xrp
XRP (XRP) $ 1.45 2.66%
dogecoin
Dogecoin (DOGE) $ 0.427738 2.66%
usd-coin
USDC (USDC) $ 1.00 0.14%
cardano
Cardano (ADA) $ 1.03 4.99%
staked-ether
Lido Staked Ether (STETH) $ 3,356.56 1.74%
tron
TRON (TRX) $ 0.207892 2.42%
stellar
Stellar (XLM) $ 0.57639 16.14%
avalanche-2
Avalanche (AVAX) $ 41.59 1.29%
the-open-network
Toncoin (TON) $ 6.14 4.65%
shiba-inu
Shiba Inu (SHIB) $ 0.000026 1.99%
wrapped-steth
Wrapped stETH (WSTETH) $ 3,968.43 1.93%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 97,132.02 0.42%
polkadot
Polkadot (DOT) $ 8.92 2.88%
chainlink
Chainlink (LINK) $ 17.86 1.07%
bitcoin-cash
Bitcoin Cash (BCH) $ 513.83 0.65%
weth
WETH (WETH) $ 3,358.64 1.47%
sui
Sui (SUI) $ 3.38 3.11%
pepe
Pepe (PEPE) $ 0.00002 2.89%
near
NEAR Protocol (NEAR) $ 6.66 6.80%
leo-token
LEO Token (LEO) $ 8.48 1.57%
litecoin
Litecoin (LTC) $ 97.66 1.70%
aptos
Aptos (APT) $ 12.29 5.29%
uniswap
Uniswap (UNI) $ 10.81 0.36%
wrapped-eeth
Wrapped eETH (WEETH) $ 3,534.90 1.79%
hedera-hashgraph
Hedera (HBAR) $ 0.149069 2.03%
internet-computer
Internet Computer (ICP) $ 11.59 0.82%
usds
USDS (USDS) $ 1.00 0.26%
crypto-com-chain
Cronos (CRO) $ 0.190431 5.44%
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.563072 1.95%
ethereum-classic
Ethereum Classic (ETC) $ 28.66 3.81%
render-token
Render (RENDER) $ 7.96 1.17%
fetch-ai
Artificial Superintelligence Alliance (FET) $ 1.52 5.52%
ethena-usde
Ethena USDe (USDE) $ 1.00 0.12%
kaspa
Kaspa (KAS) $ 0.1533 0.69%
bittensor
Bittensor (TAO) $ 514.00 3.11%
bonk
Bonk (BONK) $ 0.000048 0.44%
vechain
VeChain (VET) $ 0.043718 3.89%
whitebit
WhiteBIT Coin (WBT) $ 24.36 1.60%
dai
Dai (DAI) $ 1.00 0.25%
arbitrum
Arbitrum (ARB) $ 0.849317 2.37%
filecoin
Filecoin (FIL) $ 5.68 2.40%
cosmos
Cosmos Hub (ATOM) $ 8.68 4.26%
celestia
Celestia (TIA) $ 7.88 7.65%
mantra-dao
MANTRA (OM) $ 3.67 0.75%
okb
OKB (OKB) $ 54.61 6.36%