eBay (EBAY) Tops Q2 EPS by 2c; Raises Outlook

eBay (NASDAQ: EBAY) reported Q2 EPS of $1.08, $0.02 better than the analyst estimate of $1.06. Revenue for the quarter came in at $2.9 billion versus the consensus estimate of $2.8 billion.

"Our team's focus on supporting small businesses and communities during a period of heightened need allowed us to re-engage our existing buyers and sellers while introducing approximately 8 million new customers to our platform during the quarter," said Jamie Iannone, Chief Executive Officer of eBay Inc. "This contributed to a very strong second quarter, ahead of expectations. Recently, we've also accelerated the rollout of managed payments and signed an agreement to transfer our Classifieds business to Adevinta, bringing together two highly complementary businesses to create the world\'s largest online classifieds group."

"Our purpose has always been to empower people and create economic opportunity for all," continued Iannone. "As we look to the future, our vision is clear - we will build on our powerful strengths to become the best global marketplace for buyers and sellers through a technology-led reimagination. We will accomplish this vision through three key priorities: build compelling next-gen experiences for our enthusiasts; become the partner of choice for sellers; and cultivate life-long trusted buyer relationships."

GUIDANCE:

eBay sees Q3 2020 EPS of $0.81-$0.87, versus the consensus of $0.81. eBay sees Q3 2020 revenue of $2.64-2.71 billion, versus the consensus of $2.55 billion.

eBay sees FY2020 EPS of $3.47-$3.59, versus the consensus of $3.51. eBay sees FY2020 revenue of $10.56-10.75 billion, versus the consensus of $10.43 billion.

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

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