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eBay, Inc. (EBAY) Misses Q2 EPS by 1c; Guides Just Shy of Views

July 17, 2013 4:19 PM EDT Send to a Friend
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(Updated - July 17, 2013 4:21 PM EDT)

eBay, Inc. (NASDAQ: EBAY) reported Q2 EPS of $0.63, $0.01 worse than the analyst estimate of $0.64. Revenue for the quarter came in at $3.9 billion versus the consensus estimate of $3.89 billion.

eBay, Inc. sees Q3 2013 EPS of $0.61-0.63, versus the consensus of $0.65. eBay, Inc. sees Q3 2013 revenue of $3.85-3.95 billion, versus the consensus of $3.97 billion.

eBay, Inc. sees FY2013 EPS of $2.70-2.75, versus the consensus of $2.75. eBay, Inc. sees FY2013 revenue of $16-16.5 billion, versus the consensus of $16.31 billion.

"We had a strong second quarter, with $51 billion of enabled commerce volume across Marketplaces, PayPal and eBay Enterprise driving double-digit revenue and earnings growth," said eBay Inc. President and CEO John Donahoe. "Macroeconomic headwinds in Europe and Korea will continue to be a challenge in the second half of the year. But our core businesses are strong and we continue to attract millions of new customers each quarter through mobile innovation. We remain confident in our ability to meet our goals and drive global commerce innovation and leadership."

PayPal delivered a strong second quarter performance with revenue increasing 20% to $1.6 billion. PayPal gained 4.7 million active registered accounts in the period and ended the quarter with 132 million, a 17% increase. PayPal's net total payment volume (TPV) grew 24% to $43 billion driven by consumer and merchant use of PayPal both on and off eBay. PayPal continues to invest in growing its addressable market, product development, and consumer awareness. Payment velocity increased with a sequential acceleration of both the number of transactions and payment volume. PayPal made strides offline with PayPal Here now live in six countries while growing domestic merchant coverage by signing agreements with more than 50 merchant acquirers to facilitate usage of PayPal over the Discover network.

Marketplaces delivered a strong second quarter performance with revenue of $2.0 billion, increasing 10%, or 12% excluding the gain from the resolution of an indirect tax dispute in 2012. Marketplaces gained 3.5 million active users in the period and ended the quarter with 120 million, a 14% increase. Gross merchandise volume (GMV), excluding vehicles, increased 13% to $18 billion. Fixed price GMV grew 17% globally and represented 69% of total GMV. U.S. GMV, excluding vehicles, increased 16% to $7.3 billion driven by mobile and momentum in the parts & accessories and home & garden categories. International GMV, excluding vehicles, increased 11% to $11 billion, showing stable growth while facing a tougher macroeconomic environment. Marketplace's new search engine, which went live in North America in the second quarter, will help to enable smarter, faster and more intuitive search experiences.

For earnings history and earnings-related data on eBay, Inc. (EBAY) click here.




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