eBay beats with revenues of $2.6B and EPS of $0.67 as restructuring takes shape

TechCrunch | 4/23/2019 | Staff
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As eBay continues to work through a restructuring strategy, the e-commerce marketplace and online auction pioneer reported earnings for the first quarter of the year that should keep some of the more activist shareholders a little at bay. The company reported revenues of $2.6 billion and non-GAAP net income of $608 million, or diluted earnings per share of $0.67 ($0.57 EPS on a GAAP basis).

Both numbers, in fact, exceeded analysts’ estimates. On average, they had predicted eBay to report EPS of $0.63 per share (on a range of $0.58 to $0.64) on revenues of $2.58 billion (range of $2.55 billion to $2.63 billion).

Quarter - Revenue - EPS - Devin - Wenig

“We delivered a solid first quarter with revenue and EPS,” said Devin Wenig, president and CEO of eBay Inc., in a statement. “Our initiatives to create a next generation payment and advertising experience are on track, we saw healthy buyer growth and disciplined cost control, and we continue to simplify the buying process while remaining focused on seller’s success.”

Indeed, the guidance eBay is providing for the quarter and full year ahead speaks to those challenges. It expects in Q2 to post revenues of between $2.64 billion and $2.69 billion, growth of just two percent...
(Excerpt) Read more at: TechCrunch
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