eBay Reports Q2 Beat, Provides Guidance
2022.08.04 02:38
eBay Reports Q2 Beat, Provides Guidance
By Davit Kirakosyan
eBay (NASDAQ:EBAY) reported its Q2 results, with EPS coming in at $0.99, better than the consensus estimate of $0.89.
Revenue was down 9% year-over-year (down 6% on an FX-neutral basis) to $2.4 billion, compared to the consensus estimate of $2.37 billion. Gross merchandise volume (GMV) was down 18% year-over-year (down 14% on an FX-neutral basis) to $18.5 billion.
According to Jamie Iannone, CEO of eBay, their focus category strategy is working, and payments and advertising are driving further growth, with the company being in a stronger position today than it was when entering the pandemic. “Despite rising inflation, and an uncertain macro environment, we remain on track to deliver on our 2022 commitments,” added Iannone.
The company expects Q3/22 EPS in the range of $0.89-$0.95, compared to the consensus estimate of $0.92. Revenue is expected to be in the range of $2.29 – $2.37 billion.
For the full 2022-year, the company expects EPS in the range of $3.95-$4.10, compared to the consensus estimate of $3.98. Revenue is expected to be in the range of $9.6 – $9.9 billion.
The company’s Board of Directors has declared a cash dividend of $0.22 per share of the company’s common stock, which is payable on September 16 to stockholders of record as of September 1.
