EBay (NASDAQ:EBAY) posted its latest quarterly earnings results after hours Wednesday, bringing in stronger figures that include a profit that’s better than Wall Street gave it credit for, while revenue did as well, lifting EBAY shares more than 6% late in the afternoon.
The online marketplace — which has now been around for nearly a quarter century — said its second quarter includes net income from continuing operations of about $403 million, or 46 cents per share. This is about 36.8% lower than its profit from the year-ago period, which totaled $638 million, or 64 cents per share.
On an adjusted basis, eBay said its profit tallied up to 68 cents per share, better than the Wall Street consensus estimate of 62 cents per share. The business has been turning its attention toward advertising, payments and other emerging business as it faces competition from Amazon.
Revenue came in at $2.69 billion, gaining 2% year-over-year and surpassing the $2.68 billion that analysts predicted.
For its third quarter of 2019, adjusted profit is projected to be in the range of 62 cents to 65 cents per share, in line with the 63 cents per share that Wall Street called for, according to data compiled by Refinitiv. During that period, eBay sees its revenue in the range of $2.61 billion to $2.66 billion, below the $2.68 billion that analysts who were polled by Refinitiv call for.
EBAY stock is up about 6.6% after the bell following the company’s results.