eBay Inc Surges After Earnings Beat And Guidance Raise

eBay Inc Surges After Earnings Beat And Guidance Raise

eBay released its latest earnings report after closing bell tonight, posting non-GAAP earnings of 43 cents per share on $2.1 billion in revenue, a 5% increase on a currency neutral basis but a 2% decline on a reported basis. Analysts had been expecting earnings of 40 cents per share on $2.09 billion in revenue.

Immediately after eBay’s report, its shares shot skyward in after-hours trades, climbing as much as 8.63% to $26.30 per share.

David Einhorn At The 2021 Sohn Investment Conference: Buy These Copper Plays

david einhorn, reading, valuewalk, internet, investment research, Greenlight Capital, hedge funds, Greenlight Masters, famous hedge fund owners, big value investors, websites, books, reading financials, investment analysis, shortselling, investment conferences, shorting, short biasThere's a gold rush coming as electric vehicle manufacturers fight for market share, proclaimed David Einhorn at this year's 2021 Sohn Investment Conference. Check out our coverage of the 2021 Sohn Investment Conference here. Q1 2021 hedge fund letters, conferences and more SORRY! This content is exclusively for paying members. SIGN UP HERE If you Read More

eBay clocks GMV growth

GAAP earnings on continuing operations were 45 cents per share. eBay recorded a 6% increase in gross merchandise volume on a currency neutral basis, which brought it to $19.6 billion. On a reported basis, eBay’s gross merchandise volume declined 2%. U.S. gross merchandise volume accelerated to a 3% growth rate quarter over quarter. Internationally, gross merchandise volume rose 7% on a currency neutral basis but fell 5% on a reported basis.

The company reported a 5% year over year increase in its Active Buyer base for its commerce platform, which grew to 159 million during the quarter.

“We drove solid results in the quarter in which we completed a complex separation,” eBay President and Chief Executive Devin Wenig said in a statement. “We also marked eBay’s 20th anniversary and made progress on executing our strategy to reposition the company to deliver stable and profitable long-term growth.”

eBay ups 4Q guidance

eBay management expects fourth quarter net revenues to be between $2.275 billion and $2.325 billion, which would be a growth rate of 3% to 5% on a currency neutral basis. They expect non-GAAP earnings to be between 47 cents and 49 cents per share and GAAP earnings to be between 42 cents and 44 cents per share. The FactSet consensus estimate for adjusted earnings in the fourth quarter is 48 cents per share.

For the full year, eBay continues to expect 3% to 5% growth in net revenue on a currency neutral basis. Management expects non-GAAP earnings from continuing operations to be between $1.80 and $1.82 per share. That’s an increase from their previous guidance of between $1.72 and $1.77 per share. They expect GAAP earnings to be between $1.58 and $1.60 per share.

No posts to display