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    EBAY   US2786421030

EBAY INC.

(EBAY)
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Real-time Estimate Quote. Real-time Estimate Cboe BZX - 01/26 12:07:20 pm
58.66 USD   +0.83%
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Ebay : 2Q Profit, Revenue Rises As Consumers Tap Marketplace During Pandemic

07/28/2020 | 04:57pm EST

By Micah Maidenberg

Ebay Inc. said its second-quarter profit and revenue picked up, reflecting stronger in the digital marketplace during the quarter with many people stuck at home as the coronavirus spread.

Profit rose to $746 million, or $1.05 a share, from $402 million, or 46 cents a share, for the same quarter last year. Ebay reported an adjusted profit of $1.08 a share, ahead of analysts' forecasts by 3 cents.

Revenue rose to $2.87 billion from $2.42 billion. Analysts expected almost $2.8 billion in revenue, according to FactSet.

Annual active buyers, or accounts that purchased something through the company's platform within the previous 12-month period, rose 5% in the quarter to 182 million. Gross merchandise volumes, measuring the value of completed sales, rose 26% to $27.1 billion in the quarter.

Ebay said its marketplace platforms have seen better results for traffic, sold items and other key metrics due to a "shift to e-commerce shopping resulting from the COVID-19 pandemic."

Sales categories, including home and garden, electronics and auto parts, were among those seeing growth compared to previous quarters, the company said.

Ebay last week said it would sell its classified-ads business to Norway's Adevinta AS, a deal the companies said was valued at about $9.2 billion, including $2.5 billion in cash.

Hedge fund Starboard Value LP had pressured eBay to sell the unit, a move the investor had said would help the company better focus on its digital marketplace.

Starboard, which as of early February owned more than 1% of eBay shares, had nominated directors to join the company's board. In April, the investor withdrew its board candidates after eBay agreed to hire Jamie Iannone as chief executive.

 

Write to Micah Maidenberg at micah.maidenberg@wsj.com

 

Stocks mentioned in the article
ChangeLast1st jan.
ADEVINTA ASA 3.67% 89.84 Real-time Quote.-26.12%
EBAY INC. 0.58% 58.4748 Delayed Quote.-12.51%
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Analyst Recommendations on EBAY INC.
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Financials (USD)
Sales 2021 10 414 M - -
Net income 2021 1 649 M - -
Net Debt 2021 - - -
P/E ratio 2021 23,6x
Yield 2021 1,22%
Capitalization 36 421 M 36 421 M -
Capi. / Sales 2021 3,50x
Capi. / Sales 2022 3,33x
Nbr of Employees 12 700
Free-Float -
Chart EBAY INC.
Duration : Period :
eBay Inc. Technical Analysis Chart | EBAY | US2786421030 | MarketScreener
Technical analysis trends EBAY INC.
Short TermMid-TermLong Term
TrendsBearishBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 30
Last Close Price 58,18 $
Average target price 77,14 $
Spread / Average Target 32,6%
EPS Revisions
Managers and Directors
Jamie Iannone President, Chief Executive Officer & Director
Stephen J. Priest Chief Financial Officer & Senior Vice President
Paul S. Pressler Chairman
Mazen Rawashdeh Chief Technology Officer & Senior Vice President
Molly Finn Chief Compliance Officer & Vice President
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