eBay Inc. Reports Second Quarter Results Headline News Investments Latest Shayne Heffernan Stocks Top Stories US Stocks

eBay Inc. reports second quarter results

  • – $ 2.7 billion income
  • – GAAP and non-GAAP deferred gadgets per diluted share of $ zero.46 and $ 0.68 based mostly on persevering with operations
  • – GAAP and Non-GAAP Working Margin 20.9% and 26.9%
  • – returned $ 1.6 billion to shareholders in the second quarter, together with $ 1.5 billion repurchases and $ 120 million in dividends

eBay Inc. (NASDAQ: EBAY), worldwide trading supervisor. On June 30, 2019, $ 2.7 billion, a rise of 2% of the reported worth and a four% overseas foreign money (FX) neutral basis, mainly on account of a $ 22.6 billion gross commerce quantity (four%).

Through the quarter, eBay delivered GAAP internet revenue from persevering with operations of $ 403 million, or $ 0.46 per diluted shares and non-GAAP internet revenue from continuing operations of $ 589 million, or $ zero.68. diluted share. The corporate generated $ 744 million in operational cash circulate and $ 607 million in free cash move from persevering with operations, and in addition raised some $ 1.5 billion in shares and paid $ 120 million in money dividends in the course of the quarter.

lively purchaser base that gives wonderful buyer experience and accelerate the Initiative for Progress in the second quarter, "said eBay Inc.. Devin Wenig, CEO of" Managed contributions exceed the expectations of further, whereas the primary celebration advertising provides vital advantages for sellers. and new features make our market easier to make use of. ”

In the course of the second quarter, eBay elevated lively consumers by four% on its complete platform, totaling EUR 182 million. EBay's performance-based Marketplace platforms generated $ 2.2 billion in revenue and $ 21.5 billion in GMV. Market progress was 1% reported and three% based mostly on change price fluctuations, and GMV dropped by 5% reported per invoice and decreased by 1% on the idea of change fee fluctuations. StubHub platforms elevated revenues by $ 264 million and grew by 7 % on both reported and overseas foreign money, and GMV was $ 1.1 billion, up 5 % on reported and up to 6 % in overseas foreign money phrases. Categorised platforms generated internet sales of $ 271 million, elevated by 5 % on reported basis and up to 12 % on change fee modifications

. Based mostly on these results and increased confidence within the yr, EBay raised full-year EPS tips

Progress Initiatives

eBay accelerated the introduction of its new cost service, with over 6,000 distributors collaborating. Through the quarter, the corporate reached greater than $ 270 million of GMV, an increase of 24 % from the previous quarter, bringing the entire amount of GMV to $ 636 million. PayPal integration for all registered US distributors is prepared and supply in Germany will probably be in place by the top of 2019 until the regulation is accredited. First

-party promoting continued its spectacular progress medium. In the course of the second quarter of the yr more than 940 000 vendor used a first-party promoting to increase greater than 250 million listing of sales, which resulted in a $ 89 million income, which was greater than 130 % progress fee FX-neutral background

eBay additionally continued to simplifying the buying experience and a platform for simpler sellers. The corporate launched new pages that beforehand reworked unstructured lists into more intuitive product results, revealed Brand Outlet, and expanded simplified return processes for more clients. New vendor features have been announced to extend buyer transformation, together with purchases, tendencies in your interest, and prolonged provides to consumers. The Quantity Pricing UI was dramatically improved, making it simpler for sellers to supply volume-based discounts and purchaser action on these discounts. In addition, eBay introduced new APIs that permit third-party developers the power to make use of managed charges, advertised lists and log in by way of eBay

Portfolio Replace

eBay has taken several steps in current weeks to strengthen salkunsa. First, the company has entered right into a business settlement with Paytm Mall to convey eBay's international inventory to one in every of India's largest marketplaces. Secondly, eBay has reached an settlement on the sale of the flash that it sells with associates of the German business brands4. The company can also be actively analyzing the position and value of StubHub and Classifieds in figuring out the absolute best strategy to maximize shareholder worth

Financial Highlights of the Second Quarter (introduced in Tens of millions, Excluding Share-Based mostly Info and Percentages)

Second Quarter 2019 2019 2018 Change eBay Inc. " $ 2,687 $ 2,640 $ 47 2% GAAP Continuing Operations [19659013 "

] Revenue from continuing operations (losses) $ 403 $ 638 $ (235) [196] 59019] (37)% Outcome (loss) diluted share of continuous operations $ zero.46 $ 0.46 $ 0.64 $ (zero.18) (27)% Non-GAAP Continuous Operations 19659019] ] " Internet profit $ 589 $ 533 $ 56 11% Earnings per diluted share [$19659019] $ 0.68 $ zero.15 $ 0.15

Different selected monetary and operational results

  • Working revenue proportion – GAAP operating margin elevated 20.9 in the second quarter of 2019, compared with 15.4% within the previous yr. Non-GAAP working margin increased to 26.9% in the second quarter of 2019, in contrast with 25.2% in the corresponding period last yr.
  • Taxes – GAAP tax price for continuing operations within the second quarter of 2019 was 20.9%. compared to 9.7 % within the second quarter of 2014. In the second quarter of 2014, the non-GAAP efficient tax fee for continuing operations was 13.four per cent, compared with 13.three per cent in the second quarter of 2013.
  • Cash movement – The corporate generated $ 744 million in continuing operations and $ 607 million in free money movement within the second quarter of 2019.
  • Return on Capital – The corporate acquired approximately $ 1.5 billion of its personal shares in the second quarter, or 40 million shares. The company's complete gross sales license on June 30, 2016 was $ 4.2 billion. The corporate additionally paid $ 120 million in cash dividends in the second quarter of 2019.
  • Money and non-equity investments – The company's cash and non-equity investments amounted to $ 6.3 billion as of 30 June 2019

Enterprise outlook

  • Third quarter 2019 – The corporate expects internet revenue of two.61 billion to $ 2.66 billion, an organic FX impartial progress of 1% to 3%. $ zero.40 to $ zero.44 and non-GAAP revenue from diluted share of continuous operations $ 0.62 to $ zero.65.
  • The whole yr 2019 – The company expects internet revenues of between $ 10.75 billion and $ 10.83 billion, ie natural FX impartial progress of 2% to three%, and GAAP's diluted share of continuous operations is 1.97-2, $ 07 and non-GAAP earnings per diluted share of Persevering with Operations t he $ 2.70 – $ 2.75

Dividend Report

  • eBay's Board of Directors has announced that a dividend of $ zero.14 per share is payable. The dividend might be paid on 20 September 2019 to report shareholders as of three.9.2019.

Quarterly Conference Name and Webcast

eBay Inc. organizes a conference name to discuss the second quarter 2019 results at 14.00. Pacific time right now. A stay convention name together with a slideshow containing further monetary info and the coordination of sure non-GAAP measures with the closest equivalent GAAP measures could be discovered on the company's Investor Relations web site at https: //buyers.ebayinc .com. In addition, the webcast archive is out there for at the very least three months by way of the identical link

eBay Inc. uses the Investor Relations website at https://investors.ebayinc.com as a way of exposing materials that isn’t meant to inform the general public and comply with the disclosure obligations underneath Regulation FD. Subsequently, buyers ought to comply with the following press releases along with SEC bulletins, public convention calls and webcasts

About eBay

eBay Inc. (NASDAQ: EBAY) is a worldwide buying and selling manager that features a market for StubHub and Classifieds platforms. Together, we mix tens of millions of consumers and sellers all over the world, strengthening individuals and creating opportunities for everybody. Based in 1995, San Jose, California, eBay is likely one of the world's largest and most vibrant marketplaces to seek out nice value and a singular selection. In 2018, eBay made $ 95 billion in product sales. For more information about the corporate and its worldwide on-line brand choice, go to www.ebayinc.com

Introduction

All progress rates symbolize year-to-year comparisons until otherwise noted. All amounts in the tables are expressed in US dollars, rounded to the closest million, until in any other case said. Consequently, certain amounts might not decrease or recalculate the rounded dollar amounts given

Non-GAAP Monetary Measures

This press release incorporates the following monetary measures, outlined by the Securities and Trade Commission (SEC): Non-GAAP Internet Revenue. non-GAAP earnings per diluted share, non-GAAP working margin, non-GAAP effective tax price and free money move. These non-GAAP financial measures are introduced on a continuous basis. These measures might differ from these utilized by other corporations for non-GAAP financing. Presentation of this monetary info, which is not ready in accordance with complete accounting rules or rules, is just not meant to be separated or changed by financial info ready and introduced in accordance with usually accepted accounting rules. (GAAP). The coordination of those non-GAAP monetary operations with the closest equal GAAP measures is in “Business Outlook”, “Non-GAAP Financial Performance Indicators”, “Coordination of GAAP Operating Margin with Non-GAAP Operating Margin”. GAAP Internet Revenue for Non-GAAP Internet Revenue and GAAP Coordinating Effective Tax Fee for Non-GAAP Effective Tax Fee ”and“ Adjusting Cash Flow for Free Cash Flow ”

Future Prospects [19659006] This press release incorporates forward-looking statements together with eBay Inc and its consolidated subsidiaries, based mostly on the company's current expectations, forecasts, and assumptions, with dangers and uncertainties. These statements embrace, but usually are not restricted to, statements on the longer term improvement of eBay Inc. and its consolidated subsidiaries, together with the anticipated financial results for the third quarter and the complete yr 2019, in addition to future business progress, dividends and share repurchases. Precise results might differ considerably from predicted or implicit and reported results, which should not be thought-about as an indication of future efficiency. Other elements which will cause or contribute to such differences embrace: modifications in political, enterprise and economic circumstances, all regional or basic financial recessions or crises and circumstances affecting on-line commerce progress or cross-border commerce; the power of the corporate to understand the anticipated progress potential when it comes to cost transmission and advertising; operational and strategic portfolio analysis results; change fee fluctuations; the need for the corporate to reply efficiently to the rising significance of cellular commerce and the growing social facet of trading; an more and more aggressive enterprise setting; modifications within the allocation of the company's capital, together with the timing, announcement, amount and cost of all future dividends or acquisitions of the corporate's shares, or money administration; the corporate's capability to handle its indebtedness, including interest rate administration and retention of credit score scores; the need for an enterprise to manage an ever larger company with a variety of levels of maturity and in many various geographical areas; enterprise need and skill to manage regulatory, tax, safety and litigation dangers; The operational, advertising and strategic benefits of separating eBay and PayPal companies could be achieved; the power of the corporate to update and develop know-how techniques, infrastructure and customer service features in a well timed method at an inexpensive value, whereas sustaining the steadiness and efficiency of the location and including new merchandise and features; and the corporate's capability to integrate, manage and grow corporations which were acquired or may be acquired sooner or later.

The prospects introduced on this publication don’t embrace the potential impression of attainable disclosures or donations.

For more info on the elements that would have an effect on the company's operating end result, see the corporate's latest heading "Risk Factors" and "Management Discussion and Analysis of Financial Situation and Performance". Annual Report on Type 10-Okay and subsequent quarterly reports from Type 10-Q, copies of which may be obtained from the company's Investor Relations website at https://investors.ebayinc.com or on the SEC web site at www.sec.gov. This press release shouldn’t rely on forward-looking statements based mostly on the knowledge out there to the company. The company is just not obliged to replace such statements

eBay Inc.Unaudited Condensed Consolidated Stability
30.
19659019]
2018
(Hundreds of thousands)
(Tens of millions)
"
ASSETS
ASSETS
Inventories: " ]. ]
Brief-term Investments 2 969 ] ]
Accounts Receivable, Internet 797 " 712 "
Other Current Belongings
1499 [19659019]
[1] 9659021] Current Belongings Complete
6,844 "

[1965921]] three,778
1,573