Thu, Jul. 21, 12:55 PM
- eBay (EBAY +11.7%) registered a 5.7% increase Y/Y in revenue with GAAP EPS of $0.38 and non-GAAP EPS of $0.43.
- Repurchased $500M of common stock and announced approval for an additional $2.5B buyback.
- StubHub revenue of $225M, +40% Y/Y.
- Raised Q3 net revenue guidance to $21.6B-$2.19B and non-GAAP and GAAP EPS to $0.42-$0.44 and $0.35-$0.37, respectively.
- Raised FY16 net revenue guidance to $8.85B-$8.95B and non-GAAP and GAAP EPS to $1.85-$1.90 and $1.60-$1.65, respectively.
- GAAP operating margin +23.8% vs. +20.3% Y/Y.
- Generated operating cash flow of $764M and free cash flow of $617M.
- The company reached the 1B live listing milestone during the quarter and reasserts its focus on enhancing its platform in regard to experience and discovery.
- The recent acquisitions of Expertmaker and SalesPredict were noted as the company continues to build machine learning and artificial intelligence capabilities into its platform.
Thu, Jul. 21, 9:15 AM
Wed, Jul. 20, 5:42 PM
Tue, Apr. 26, 4:19 PM
Tue, Apr. 19, 11:10 AM
- EBay (NASDAQ:EBAY) is off 2.8% following some cautious rumblings from Morgan Stanley, which has downgraded shares to Underweight amid worries about the company's international marketplaces.
- The firm trimmed its price target on shares to $22.50; shares closed yesterday at $25.31.
- The International marketplaces make up about 60% of total gross merchandise value and 44% of total revenues. But Alphawise survey data suggests more than 60% of consumers in the UK and German don't plan to shop on eBay in 2016, vs. about 20% a year ago.
- Now read eBay At $23 Is A Strong Buy »
Mon, Feb. 22, 7:09 PM
- EBay (EBAY +1.8%) has priced an offering of $750M in debt.
- The offering of 6% notes due 2056 comes at $25 per note plus any accrued interest. EBay expects the offering to close next Monday, and to use the proceeds for general purposes (including buybacks, capex, acquisitions or debt repayment).
- In its most recent report, the company noted $6.78B in total debt (vs. $6.13B in cash). Debt/equity ratio was about 103, while debt/asset ratio was just over 38.
- The new notes will be listed on Nasdaq Global Select under the symbol EBAYL.
- After hours: EBAY -0.2%.
Thu, Jan. 28, 9:23 AM
- Gainers: NEOS +59%. DNR +17%. BCEI +16%. UA +16%. FB +14%. INO +13%. ATHX +12%. PBR +12%. WLL +11%. MRO +10%. [[PBR-A]] +10%. TRXC +9%. CHK +9%. MLNX +9%. LINE +9%. MT +9%. SDRL +8%. HOG +8%. ETE +8%. STO +8%. CRUS 7%. KMI 7%. BBL 6%. HCA 6%. MJN 6%. CJES 6%. PYPL 6%.
- Losers: NOW -22%. OSIS -22%. EBAY -11%. INVN -10%. URI -10%. INCY -9%. JNPR -10%. OAS -7%.
Wed, Jan. 27, 5:40 PM
Wed, Jan. 27, 4:20 PM
- eBay (NASDAQ:EBAY) slumps in after-hours trading after setting weak guidance.
- The company sees Q1 revenue of $2.05B-$2.1B vs. $2.16B consensus and EPS of $0.43-$0.45 vs. $0.48 consensus.
- Guidance for full-year revenue is vs. $8.5B-$8.8B vs. $8.59B and the outlook for 2016 EPS is $1.82-$1.87 vs. $1.98 consensus.
- Gross merchandise volume in Q4 was flat at $21.9B (+5% constant currency).
- Revenue growth at StubHub (+34%) and Classifieds (+2%) helped cut into the drop at MarketPlace (-5%).
- Non-GAAP operating margin fell 230 bps to 34.4% on some sales deleverage.
- The company's active buyer base rose 5% to 162M during the quarter.
- Previously: eBay EPS and revenue in-line (Jan. 27)
- EBAY -9.6% AH to $23.88.
Oct. 22, 2015, 9:14 AM
Oct. 21, 2015, 5:39 PM
Oct. 21, 2015, 4:44 PM
- Low expectations (caused by many quarters of share loss to Amazon and others) have led EBAY to blast off after beating estimates for a quarter that saw the PayPal spinoff take effect. Somewhat soft Q4 guidance - revenue of $2.275B-$2.325B and EPS of $0.47-$0.49 vs. a consensus of $2.33B and $0.49 - is being taken in stride.
- Metrics: GMV fell 2% Y/Y in Q3 to $19.6B (it was up 6% excluding forex), after dropping 3% in Q2. U.S. GMV +3%, international GMV -5% (+7% exc. forex). Active buyers +5% Y/Y to 159M. eBay Classifieds and StubHub are said to have delivered "strong quarters."
- Financials: Cost cuts contributed to the EPS beat: GAAP operating expenses fell 5% Y/Y to $1.09B, thanks to a 9% drop in sales/marketing spend to $565M. R&D spend fell slightly and G&A rose slightly. Also lifting EPS: $599M was spent to buy back 21.9M shares. eBay ended Q3 with $8B in cash and non-equity investments, and $7.4B in debt.
- Shares have risen to $26.33 after hours.
- Q3 results, PR
Oct. 21, 2015, 4:17 PM
- eBay (NASDAQ:EBAY): Q3 EPS of $0.43 beats by $0.03.
- Revenue of $2.1B (-2.3% Y/Y) beats by $10M.
- Shares +9%.
Oct. 8, 2015, 10:30 AM
- ChannelAdvisor (ECOM -5.7%) reports clients selling on eBay (EBAY -6.3%) saw their same-store sales rise 1.1% Y/Y in September. That's down from 3.4% in August, well below U.S. e-commerce growth of ~15% (per comScore), and the slowest rate of growth over the last 12 months.
- Only a 13.3% increase in Motors same-store sales (down from 20% in August) kept eBay's growth positive. Auctions were down 31%, and fixed-price sales 0.7%.
- Amazon (AMZN -1.9%) fared better, with same-store sales rising 19.2%. However, that's down from August's 24.7%, and also a 12-month low. 35.9% of Amazon-related GMV relied on Amazon's fulfillment services (FBA), up from 29.9% a year ago, with sellers using FBA seeing 30.1% same-store growth.
- Google Shopping/Product Listing Ads (indirectly competes with Amazon) were strong, registering 46.1% same-store growth with the help of higher conversion rates. Some of their growth came at the expense of search ads (dominated by Google), which saw a 9.5% same-store decline.
Jul. 20, 2015, 7:16 PM
- With PayPal (NASDAQ:PYPL) closing at $40.47 and EBAY (Marketplaces) at $28.57, PayPal and eBay rose a combined 4.1% today from pre-split eBay's Friday close of $66.29. PayPal is worth $49.4B, and eBay $34.7B.
- Helping PayPal: BMO, JPMorgan, Baird, SunTrust, and Wells Fargo launched coverage today with bullish ratings. Evercore went contrarian and launched at Sell.
- SunTrust's Bob Peck ($45 target) estimates PayPal's current B2C e-commerce addressable market is worth $45B+, and that its "stretch" addressable market (includes remittances, B2B e-commerce, and in-store payments - a lower share has to be assumed) could be worth ~$500B. "PayPal has 165M active users (including 10M merchants), operates in 200 countries with a support staff of 8,000, and is highly credible as it relates to international (48% of TPV), cross-border (24% of TPV), and global security and regulatory compliance ... PayPal has >$6B in cash ($2B U.S.) and capacity to raise ~$5B in debt (easily maintaining investment grade rating)."
- Baird's Colin Sebastian ($45 target): "PayPal is setting the global standard for online payments with trusted consumer brands and significant scale and reach. Now free from eBay, we believe PayPal can also accelerate newer initiatives beyond its core wheelhouse business (e-commerce)."
- Evercore's Ken Sena ($36 target), echoing past remarks, remains worried PayPal could lose share/see margin pressure on mobile, as payment platforms from tech giants that often have access to their users' card data (Apple, Google, Facebook, etc.) gain traction. Nonetheless, he admits Q2 payment volume ($66B, +20% Y/Y) was 3% better than expected, and that the Braintree/Venmo unit is giving a lift to mobile growth.
- Meanwhile, when asked in an interview about a potential deal with traditional eBay rival Amazon, PayPal CEO Dan Schulman left the door open to one. "We have the flexibility to work with any potential merchant partner across the globe ... I don’t really like to comment specifically [on potential partners.] We’ve had a wide array of discussions with various partners across the globe."
- Earlier: eBay/PayPal start trading post-split; PayPal worth nearly $50B
Jul. 20, 2015, 9:59 AM
- EBAY (Marketplaces) and PayPal (NASDAQ:PYPL) have officially begun trading as separately, publicly-traded, companies. As previously announced, eBay shareholders have been distributed one PayPal share for each eBay share owned.
- PayPal is at $40.51, and valued at $49.4B. eBay is at $27.73, and valued at $33.5B.
- Prior eBay/PayPal coverage
eBay, Inc. provides online market places for the sale of goods and services as well as other online commerce or ecommerce, platforms and online payment solutions to a diverse community of individuals and businesses. The company operates its business through three segments: Marketplaces, Payments... More
Industry: Catalog & Mail Order Houses
Country: United States
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