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eBay Q2 revenues increase 7 percent

By Prachi Singh

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Business |REPORT

eBay reported GMV of 20.9 billion dollars, a rise of 6 percent on FX neutral basis and 4 percent on as-reported basis for the quarter ended June 30, 2016. Revenue for the quarter was 2.2 billion dollars, up 7 percent on an FX-Neutral basis and 6 percent on an as-reported basis.

“Q2 was another good quarter where we delivered strong results and had acceleration in growth,” said Devin Wenig, President and CEO of eBay, adding, “We are now one year into executing our strategy to provide the best choice, the most relevance and the most powerful selling platform, and there are signs of momentum in our business. We continue to invest in our platforms to ensure eBay is a global commerce leader for years to come.”

Detailed review of the second quarter

GAAP net income from continuing operations was 437 million dollars, or 0.38 dollar per diluted share, and non-GAAP net income from continuing operations of 496 million dollars or 0.43 dollar per diluted share.

Underlying total eBay performance, the marketplace platforms delivered 19.8 billion dollars of GMV and 1.8 billion dollars of revenue in the second quarter. Marketplace revenue was up 3 percent on an FX-neutral basis and 1percent on an as-reported basis, driven by accelerating GMV growth of 5 percent on an FX-Neutral basis and 3 percent on an as-reported basis as well as growth in marketing services & other revenue.

StubHub growth accelerated in the quarter, with GMV of 1.1 billion dollars, up 35 percent, and revenue of 225 million dollars, up 40 percent. The Classifieds platforms delivered another quarter of strong performance with revenue of 207 million dollars, up 15 percent, primarily driven by the automotive and real estate verticals across several key geographies, including Germany and Canada.

Business outlook reflects revenue growth

For the third quarter, the company expects net revenue between 2.16 billion dollars and 2.19 billion dollars, representing FX-Neutral growth of 6 percent – 7 percent, with non-GAAP earnings per diluted share from continuing operations in the range of 0.42 dollar - 0.44 dollar and GAAP earnings per diluted share from continuing operations in the range of 0.35 dollar - 0.37 dollar.

For the full year, the company expects net revenue between 8.85 billion dollars and 8.95 billion dollars, representing FX-neutral growth of 5 percent – 6 percent, with non-GAAP earnings per diluted share from continuing operations in the range of 1.85 dollars - 1.90 dollars and GAAP earnings per diluted share from continuing operations in the range of 1.60 dollars - 1.65 dollars.

picture:ebay

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