[Editor’s Note: This article was updated on April 30 to correct the analyst expectations for revenue.]
Ebay (NASDAQ:EBAY) earnings for first quarter of 2020 have its stock ticking lower after-hours Wednesday. That comes after it reported adjusted earnings per share (EPS) of 77 cents, which is better than Wall Street’s estimate of 74 cents. Also, the e-commerce company’s revenue of $2.37 billion beat analysts’ estimates of $2.32 billion.
Here are some additional details worth noting from the most recent eBay earnings report.
- Adjusted per-share earnings are sitting 19% higher than the 65 cents in the first quarter of 2019.
- Revenue for the quarter comes in 2% lower compared to $2.41 billion in the same period of the year prior.
- Operating income of $485 million is a 6% drop year-over-year from $516 million.
- The eBay earnings report also has it bringing in a net income of $586 million.
- This is a 1% decline from the company’s net income of $590 million during the same time last year.
Scott Schenkel, interim CEO of eBay, said this in the earnings report:
“As we look at Q1, I am pleased that we delivered on all of our commitments for the quarter, with key metrics such as Buyers, GMV and Revenue performing at or better than our expectations. Over the past several months, we have remained focused and clear-eyed about the strategic direction of the company and have driven substantial changes to position the business for sustainable and profitable long-term growth.”
The eBay earnings report also includes its guidance for 2020. This has it expecting an adjusted EPS of $3 to $3.10 on revenue of $9.56 billion to $9.76 billion. For comparison, Wall Street is looking for adjusted EPS of $2.92 on revenue of $9.82 billion for the year.
EBAY stock was up down 3.41% after-hours Wednesday.
As of this writing, William White did not hold a position in any of the aforementioned securities.