EBay stock rises after earnings beat
Analysts surveyed by FactSet had estimated adjusted earnings of 62 cents a share on revenue of $2.68 billion.
From the Equity Insider archive. This article dates from Jul 18, 2019 and is preserved as first published.
Analysts surveyed by FactSet had estimated adjusted earnings of 62 cents a share on revenue of $2.68 billion.
EBay Inc. EBAY, -2.23% shares rose 3.6% in the extended session Wednesday after the company beat earnings expectations.
The company reported second-quarter net income of $402 million, or 46 cents a share, compared with $642 million, or 64 cents a share, in the year-ago period. Adjusted for items such as stock-based compensation and tax effects, among other things, earnings were 68 cents a share. Revenue rose to $2.69 billion from $2.64 billion in the year-ago period.
The company reported second-quarter net income of $402 million, or 46 cents a share, compared with $642 million, or 64 cents a share, in the year-ago period.
Analysts surveyed by FactSet had estimated adjusted earnings of 62 cents a share on revenue of $2.68 billion.
For the third quarter, analysts model adjusted earnings of 63 cents a share on sales of $2.68 billion.
EBay said it expects third-quarter adjusted earnings of 62 cents to 65 cents a share on sales of $2.61 billion to $2.66 billion.
EBay stock has gained 39% this year, with the S&P 500 index SPX, -0.65% rising 20%.
