Ebay books better-than-expected sales, earnings

E-commerce giant Ebay has posted improvements in sales and earnings for the second quarter, which management said exceeded previous expectations.

The company’s revenue for the quarter ended June 30 reached $2.6 billion, up 1 per cent on a reported basis and up 2 per cent on an FX-neutral basis.

Gross merchandise volume (GMV) rose 1 per cent on both reported and FX-neutral basis to $18.4 billion.

GAAP net income from continuing operations was $226 million, up 31 per cent. Non-GAAP net income from continuing operations was $602 million, up 8 per cent.

The company management said the strong Q2 results exceeded expectations across key financial metrics, marking another step toward “sustainable, long-term growth.”

The continued momentum in ‘Focus Categories’ contributed to the growth in GMV amid an “uneven discretionary demand environment” in major markets, they added.

For the third quarter, the company expects revenue of $2.50-2.56 billion, representing a 1-3 per cent increase on an FX-neutral basis. 

According to Reuters, Ebay’s second-quarter results beat Wall Street expectations, but its third-quarter forecast fell short of analysts’ estimates, which signals effects of a tough economy.

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