EBay Q2 Net Ex Items In-Line With Street Views; Volume Up 26%
EBay (NASDAQ: EBAY) posted second-quarter a penny ahead of expectations on a 26 percent volume gain for transactions.
The company offered a third-quarter earnings outlook below Wall Street's forecast and a prediction for the full year in line with expectations.
Net profit grew six percent to $676 million or $0.53 per share, from year earlier $640 million, or $0.49 per share.
Revenue gained 13 percent to $4.67 billion, from $3.88 billion in the year-earlier period.
Excluding items, income was $0.69 a share, up nine percent from $0.63 cents a year ago.
Analysts expected earnings excluding items of $0.68 cents a share, on revenue of $4.38 billion.
Volume increased 26 percent in the second quarter to $62 billion, including a 68 percent gain in mobile volume to $12 billion and a 26 percent increase in cross-border trade to $13 billion.
PayPal net total payment volume grew 29 percent with merchant services volume up 35 percent and on-eBay volume up 13 percent. Revenue for the segment grew to $1.9 billion.
For the third quarter, eBay expects earnings excluding items of $0.65 to $0.67 cents a share, on revenue of $4.3 billion to $4.4 billion.
Wall Street expects earnings of $0.70 per share on revenue of $4.42 billion.
The company predicted 2014 adjusted earnings of $2.95 to $3 a share, on revenue of $18 billion to $18.3 billion. That compares with a consensus of $2.98 in earnings on revenue of $18.24 billion.
After hours Wednesday, eBay traded at $51.30, up 1.18 percent.
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