eBay (EBAY) Tops Q1 EPS by 1c; Guides Relativity In-Line

eBay (NASDAQ: EBAY) reported Q1 EPS of $0.49, $0.01 better than the analyst estimate of $0.48. Revenue for the quarter rose 4% on an as-reported basis and 7% on an FX-Neutral basis to $2.2 billion versus the consensus estimate of $2.21 billion. Gross merchandise volume (GMV) for the quarter ended March 31, 2017 of $20.9 billion, increasing 2% on an as-reported basis and 5% on a foreign exchange (FX) neutral basis.

"The first quarter was a strong start to the year with accelerating growth in active buyers, revenue and our core U.S. business," said Devin Wenig, President and CEO of eBay Inc. "We are on the right path as we continue to evolve our shopping platform for consumers, leverage our technology advantages and market a sharpened eBay brand globally."

GUIDANCE:

eBay sees Q2 2017 EPS of $0.43-$0.45, versus the consensus of $0.47.

eBay sees FY2017 EPS of $1.98-$2.03, versus the consensus of $2.01.

Business Outlook

• Second quarter 2017 — The company expects net revenue between $2.28 billion and $2.32 billion, representing FX-Neutral growth of 5% - 7%, with non-GAAP earnings per diluted share from continuing operations in the range of $0.43 - $0.45 and GAAP earnings per diluted share from continuing operations in the range of $0.20 - $0.40.
• Full year 2017 — The company expects net revenue between $9.3 billion and $9.5 billion, representing FX-Neutral growth of 6% - 8%, with non-GAAP earnings per diluted share from continuing operations in the range of $1.98 - $2.03 and GAAP earnings per diluted share from continuing operations in the range of $1.85 - $2.10.

For earnings history and earnings-related data on eBay (EBAY) click here.

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