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published in Blogs
Aug 15, 2021
eBay (EBAY, $74.02) beats Q2 earnings estimates; misses revenue forecasts

eBay (EBAY, $74.02) beats Q2 earnings estimates; misses revenue forecasts

eBay posted its second quarter earnings that surpassed analysts' expectations, even as revenue missed estimates.

The e-commerce company’s earnings came in at 99 cents a share, compared to the 96 cents expected by analysts polled by Investing.com.

Revenue of  $2.67 billion fell short of  analysts expectation of $3 billion. Gross merchandise volume was $22.1 billion in the quarter, down -7% on an as-reported basis and down -11% on an FX-Neutral basis.

For the third quarter, the company projects earnings per share in the range of 86 cents to 90 cents on revenue of $2.42 billion to $2.47 billion, compared with analysts’ forecasts of 92 cents a share on revenue of $2.89 billion.

The company announced an additional $3 billion of share buyback program, following purchase of $1.5 billion of its shares during the second quarter.

Related Tickers: EBAY