Strong PayPal, Marketplaces Volume Lifts eBay (EBAY) to Q1 Beat
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Price: $108.66 +3.54%
Revenue Growth %: +11.9%
Financial Fact:
Sales and marketing: 600M
Today's EPS Names:
MAYS, CRMT, REPL, More
Revenue Growth %: +11.9%
Financial Fact:
Sales and marketing: 600M
Today's EPS Names:
MAYS, CRMT, REPL, More
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eBay Inc. (Nasdaq: EBAY) shares are trading higher in late action Wednesday following first-quarter numbers that beat expectations.
Revenue rose 29 percent from $2.55 billion during the same quarter last year to $3.28 billion. Non-GAAP net income ripped 17 percent from $619 million in the first-quarter of 2011 to $725 million, or 55 cents per share.
The Street was looking for revs of $3.15 billion and EPS of 52 cents.
PayPal revs rose 32 percent to $2.31 billion with total payment volume (TPV) up 24 percent to over $34 billion.
Marketplaces gross merchandise volume (GMV) popped 12 percent to $16 billion. Net revs rose 11 percent to $1.73 billion.
President and CEO John Donahoe said, "The first quarter was a strong start to the year for us with momentum continuing in our Marketplaces, PayPal and GSI Commerce businesses. We believe that innovation in retail today is technology driven, and consumers are embracing smarter, easier, better ways to shop. We are enabling commerce in this new retail environment, supporting and partnering with sellers of all sizes and giving consumers worldwide the ability to shop anytime, anywhere, for whatever they want."
Looking ahead, eBay sees second-quarter earnings of 53 cents to 55 cents and revs of $3.25 billion to $3.35 billion. The Street is currently modeling for EPS of 54 cents and revs of $3.3 billion.
For fiscal 2012, eBay boosted its EPS outlook from a range of $2.25 to $2.30 to a new range of $2.30 to $2.35. Revs should be about $13.8 billion to $14.1 billion. Consensus views are calling for EPS of $2.30 and revs of $13.85 billion. eBay previously guided sales to $13.7 to $14 billion.
Shares are 6 percent higher following the close of trading Wednesday.
Revenue rose 29 percent from $2.55 billion during the same quarter last year to $3.28 billion. Non-GAAP net income ripped 17 percent from $619 million in the first-quarter of 2011 to $725 million, or 55 cents per share.
The Street was looking for revs of $3.15 billion and EPS of 52 cents.
PayPal revs rose 32 percent to $2.31 billion with total payment volume (TPV) up 24 percent to over $34 billion.
Marketplaces gross merchandise volume (GMV) popped 12 percent to $16 billion. Net revs rose 11 percent to $1.73 billion.
President and CEO John Donahoe said, "The first quarter was a strong start to the year for us with momentum continuing in our Marketplaces, PayPal and GSI Commerce businesses. We believe that innovation in retail today is technology driven, and consumers are embracing smarter, easier, better ways to shop. We are enabling commerce in this new retail environment, supporting and partnering with sellers of all sizes and giving consumers worldwide the ability to shop anytime, anywhere, for whatever they want."
Looking ahead, eBay sees second-quarter earnings of 53 cents to 55 cents and revs of $3.25 billion to $3.35 billion. The Street is currently modeling for EPS of 54 cents and revs of $3.3 billion.
For fiscal 2012, eBay boosted its EPS outlook from a range of $2.25 to $2.30 to a new range of $2.30 to $2.35. Revs should be about $13.8 billion to $14.1 billion. Consensus views are calling for EPS of $2.30 and revs of $13.85 billion. eBay previously guided sales to $13.7 to $14 billion.
Shares are 6 percent higher following the close of trading Wednesday.
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