When eBay Inc. (NASDAQ: EBAY) reported its most recent quarterly results after the markets closed on Tuesday, the firm said that it had $0.67 in earnings per share (EPS) and $2.64 billion in revenue. Consensus estimates had called for $0.63 in EPS and $2.58 billion in revenue, and it the same period of last year eBay said it had EPS of $0.53 on $2.58 billion in revenue.
In the first quarter, eBay grew active buyers by 4% across its platforms, for a total of 180 million global active buyers. Underlying total eBay performance, the Marketplace platforms delivered $2.2 billion of revenue and $21.6 billion of gross merchandise volume (GMV).
Marketplace revenue growth was 3% on an as-reported basis and 4% on a FX-neutral basis, and GMV was down 4% on an as-reported basis and down 1% on a FX-neutral basis.
Separately, StubHub platforms drove revenue of $230 million, flat on both an as-reported and FX-neutral basis, and GMV of $1.0 billion, down 3% on an as-reported basis and down 2% on a FX-neutral basis. Classifieds platforms delivered revenue of $256 million, up 4% on an as-reported basis and up 12% on a FX-neutral basis.
Looking ahead to the second quarter, eBay expects to see EPS in the range of $0.61 to $0.63 and net revenue in the range of $2.64 billion to $2.69 billion. Consensus estimates are calling for $0.60 in EPS and $2.65 billion in revenue.
Devin Wenig, president and CEO of eBay, commented:
We delivered a solid first quarter with revenue and EPS. Our initiatives to create a next generation payment and advertising experience are on track, we saw healthy buyer growth and disciplined cost control, and we continue to simplify the buying process while remaining focused on seller’s success.
Shares of eBay were last seen up 5% at $38.41, in a 52-week range of $26.01 to $41.28. The consensus price target is $37.48.