EBay (NASDAQ:EBAY) reported its fiscal second-quarter results of 2018 after the bell Wednesday, posting mixed results that included a slight earnings beat and a revenue miss.
The online marketplace brought in net income of $638 million, amounting to roughly 62 cents per share. The figure was a considerable improvement over its year-ago bottom line of $29 million, or 3 cents per share.
On an adjusted basis, eBay amassed earnings of $533 million, or 53 cents per share, which was ahead of the Wall Street consensus estimate of 51 cents per share, according to Thomson Reuters. The company also compiled sales of $2.64 billion for the period, which was a 9.1% gain compared to the $2.42 billion it brought in during the year-ago period, but below analysts’ revenue guidance of $2.66 billion.
The online marketplace also recently announced that it was laying off 274 of its workers on a permanent basis, most of which are positions in its San Jose headquarters. As of late 2017, eBay has about 14,100 workers around the world.
The decision follows the company’s June announcement that it was cutting 200 positions in the U.S. “We are sharpening our focus on priority initiatives, aligning our workforce with these initiatives and reducing our global workforce by a low single digit percentage,” the company told The Oregonian last month.
EBAY stock was up about 0.4% during regular trading hours on Wednesday in anticipation of its quarterly earnings results, which then sent shares sliding 1.1% after the bell on the revenue miss.
