Its revenue tally for the period was up 13 percent year-over-year. eBay’s second-quarter GAAP earnings totaled $676 million. It’s non-GAAP earnings were much higher at $868 million.
The company had mixed results. Analysts had anticipated eBay to earn $0.68 per share on revenue of $4.38 billion. It therefore beat on profits, but missed on top line. Ebay was slightly down in regular trading, and following its earnings report is up nearly 2% after hours.
In the sequentially preceding quarter, eBay reported revenue of $4.3 billion, and non-GAAP earnings per share of $0.70. The company had a large one-time tax charge of $3 billion in that period that impacted its GAAP earnings.
In the second quarter — its most recent — eBay’s core marketplace gross merchandise volume rose 12 percent, with international growth besting domestic expansion. That business provided eBay with $2.2 billion in revenue.
PayPal, eBay’s other key asset, saw its net total payment volume rise 29 percent compared to the year-ago quarter. PayPal’s revenue for the period was $1.9 billion, with the payment company picking up 4 million new “active registered accounts,” wrapping the quarter with a total of 152 million.
eBay Enterprise, the smallest of its three main business groups, had revenue of $267 million in the quarter, up a slim 3 percent from the year-ago period.
eBay had a workable, but not ecstatic, quarter. The minor profit beat and the minor revenue miss are mostly a wash. The company is seeing its GAAP operating margin decline, which could put pressure on its future profitability.
As far as its bank account, eBay is very wealthy, ending the quarter with cash, equivalents, and non-equity investments of $12.4 billion.
For the current quarter, eBay expects something of a repeat, with top line of $4.3 to $4.4 billion, and non-GAAP earnings per share of $0.65 and $0.67.