Ebay up after hours following earnings release
Ebay jumping in extended trading after reporting Q2 earnings.
Video Transcript
- Let's go to Jared Blikre. Because Jared, I lost an auction on eBay for a '64 Daytona convertible. But eBay's a winner. Look at this, they're up over almost 2% after hours.
JARED BLIKRE: I remember using eBay in 2005. It's still here. Good for them. Second-quarter results, this is a bead on both the top and bottom lines. Got a couple of misses on some other key metrics, but on adjusted EPS from continuing operations, coming in at 99% share. Estimate was for $0.05 lower, $0.94 per share. Net revenue just eking out a mild beat, $2.67 billion for the quarter. Estimate for just $2.63 billion. Gross merchandise volume, decent beat here, $22.11 billion. The estimate was for slightly lower at $21.84 billion.
And then here is a miss. Active buyers coming in at 159 million. Estimate was for materially higher, at 171.5 million. There were only three estimates for that number, I should add.
And then in terms of their forecast for the third quarter, they are seeing net revenue of $2.42 billion to $2.47 billion. This missed estimates of $2.49 billion. They're seeing third-quarter adjusted EPS from continuing operations, $0.86 to $0.90. Coming in at the midpoint, the estimate was $0.88. Also, their share buyback authorization is increased by $3 billion, and they're increasing their dividend as of August 31, or paying their dividend as of August 31. That would be $0.18 per share.
