eBay, Inc. (EBAY) Tops Q1 EPS by 3c; Guides Q2 EPS to Low-Side of Expectations
eBay, Inc. (NASDAQ: EBAY) reported Q1 EPS of $0.70, $0.03 better than the analyst estimate of $0.67. Revenue for the quarter came in at $4.3 billion versus the consensus estimate of $4.23 billion.
PayPal net total payment volume (TPV) grew 27% with Merchant Services volume up 32% and on-eBay volume up 15%. Revenue grew to $1.8 billion. PayPal gained 5.8 million new active registered accounts to end the quarter at 148 million, up 16%. Global on-eBay penetration increased to 78.9%. PayPal continued to invest in its credit offerings, providing flexibility for consumers and merchants while improving its ability to manage transaction expense and reinvest in the business to accelerate growth.
eBay Marketplaces gross merchandise volume (GMV) grew 12%, with the U.S. up 11% and International up 13%. Revenue grew to $2.2 billion. Marketplaces gained 4.7 million new buyers to end the quarter with 145 million active buyers, up 14%. Top rated sellers in the company’s three largest markets grew their same-store-sales 19% and offered free shipping on 53% of transactions across those markets. The selection of items available on Marketplaces grew to over 650 million listings, including both platform and non-platform offerings, reflecting the success of improved selling initiatives, particularly on mobile.
eBay Enterprise gross merchandise sales (GMS) grew 16%. Revenue grew to $269 million. Enterprise enabled its clients to grow same-store sales 11%. eBay’s Magento business, which primarily services small to medium-sized businesses, was integrated into eBay Enterprise’s offerings, providing merchants of all sizes a highly flexible end-to-end solution.
eBay, Inc. sees Q2 2014 EPS of $0.67-$0.69, versus the consensus of $0.7. eBay, Inc. sees Q2 2014 revenue of $4.325-4.425 billion, versus the consensus of $4.40 billion.
eBay, Inc. sees FY2014 EPS of $2.95-$3.00, versus the consensus of $2.99. eBay, Inc. sees FY2014 revenue of $18.00-18.5 billion, versus the consensus of $18.26 billion.
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