EBay: 2Q Earnings Snapshot
SAN JOSE, Calif. (AP) _ EBay Inc. (EBAY) on Wednesday reported second-quarter net income of $402 million.
On a per-share basis, the San Jose, California-based company said it had net income of 46 cents. Earnings, adjusted for stock option expense and non-recurring costs, were 68 cents per share.
The results topped Wall Street expectations. The average estimate of 15 analysts surveyed by Zacks Investment Research was for earnings of 62 cents per share.
The e-commerce company posted revenue of $2.69 billion in the period, also topping Street forecasts. Twelve analysts surveyed by Zacks expected $2.67 billion.
For the current quarter ending in October, eBay expects its per-share earnings to range from 62 cents to 65 cents.
The company said it expects revenue in the range of $2.61 billion to $2.66 billion for the fiscal third quarter. Analysts surveyed by Zacks had expected revenue of $2.68 billion.
EBay expects full-year earnings in the range of $2.70 to $2.75 per share, with revenue ranging from $10.75 billion to $10.83 billion.
EBay shares have risen 39% since the beginning of the year, while the Standard & Poor’s 500 index has climbed 19%. In the final minutes of trading on Wednesday, shares hit $39.03, a rise of 3% in the last 12 months.