LONDON, UK / ACCESSWIRE / July 23, 2018 /

If you want access to our free earnings report on eBay Inc. (NASDAQ: EBAY), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=EBAY. eBay reported its second quarter fiscal 2018 operating and financial results on July 18, 2018. The ecommerce Company surpassed revenue estimates. Additionally, the Company provided guidance for the upcoming quarter and fiscal year. Register today and get access to over 1,000 Free Research Reports by joining our site below:

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Earnings Highlights and Summary

eBay delivered revenue for the quarter ended June 30, 2018 of $2.64 billion, increasing 9% compared to revenue of $2.4 billion in Q2 2017, primarily driven by gross merchandise volume (GMV) of $23.6 billion, up 10% on an as-reported basis. The Company?s reported numbers lagged behind analysts? estimates of $2.67 billion.

During Q2 2018, eBay?s GAAP operating margin decreased to 15.4% compared to 19.8% for Q2 2017. The Company?s non-GAAP operating margin decreased to 25.2% in the reported quarter versus 26.4% for the prior year?s corresponding quarter.

For Q2 2018, eBay delivered GAAP net income from continuing operations of $638 million, or $0.64 per diluted share, compared to GAAP earnings of $29 million, or $0.03 per diluted share, in Q2 2017. The Company?s reported quarter non-GAAP net income from continuing operations was $533 million, or $0.53 per diluted share, compared to net income of $495 million, or $0.45 per diluted share, in the prior year?s corresponding quarter. eBay?s earnings surpassed Wall Street?s estimates of $0.51 per share.

Operating Results

During Q2 2018, eBay grew active buyers by 4% across its platforms, for a total of 175 million global active buyers. Underlying total eBay Inc. performance, the Company?s Marketplace platforms delivered $2.1 billion of revenue and $22.6 billion of GMV. Marketplace revenue growth was 9% on an as-reported basis and, and GMV was up 11% on an as-reported basis.

For Q2 2018, eBay?s StubHub drove revenue of $246 million, up 4% on an as-reported basis and GMV of $1.1 billion, up 5% on y-o-y basis. The Company?s classifieds platforms delivered revenue of $259 million, up 18% on an as-reported basis in the reported quarter.

Indian Operations

eBay announced its intent to sell its holdings in Flipkart, which will represent gross proceeds of approximately $1.1 billion. Following the close of the transaction, eBay will end its current strategic relationship with Flipkart. The Company plans to relaunch eBay India with a differentiated offer to focus initially on the cross-border trade opportunity.

Cash Matters

During Q2 2018, eBay generated $372 million of operating cash flow from continuing operations and $188 million of free cash flow from continuing operations. The Company repurchased approximately $1.0 billion of its common stock, or 26 million shares, in the reported quarter. eBay?s total repurchase authorization remaining as of June 30, 2018, was $5.7 billion.

eBay?s cash and cash equivalents and non-equity investments portfolio totaled $8.6 billion as of June 30, 2018.

Business Outlook

During Q3 2018, eBay is forecasting net revenue between $2.64 billion and $2.69 billion, representing organic FX-Neutral growth of 5% - 7%, with GAAP earnings from continuing operations in the range of $0.37 - $0.41 per diluted share, and non-GAAP earnings from continuing operations in the band of $0.54 - $0.56 per diluted share.

For full year 2018, eBay is projecting net revenue between $10.75 billion and $10.85 billion, with GAAP earnings from continuing operations in the range of $1.91 - $2.01 per diluted share and non-GAAP earnings from continuing operations in the band of $2.28 - $2.32 per diluted share.

Stock Performance Snapshot

July 20, 2018 - At Friday?s closing bell, eBay?s stock was marginally up 0.26%, ending the trading session at $34.20.

Volume traded for the day: 20.03 million shares, which was above the 3-month average volume of 9.78 million shares.

After last Friday?s close, eBay?s market cap was at $37.72 billion.

Price to Earnings (P/E) ratio was at 17.07.

The stock is part of the Services sector, categorized under the Specialty Retail, Other industry.

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