E-commerce Giant eBay Posts Solid Q2 Results Despite Economic Uncertainty: Details
Portfolio Pulse from Lekha Gupta
eBay Inc. (NASDAQ:EBAY) reported solid Q2 FY24 results with revenue growth of 1% Y/Y to $2.57 billion, beating the consensus of $2.53 billion. Adjusted EPS of $1.18 also surpassed expectations. The company returned $1.1 billion to shareholders and declared a $0.27 per share dividend. eBay's outlook for Q3 includes revenue of $2.50 billion-$2.56 billion and adjusted EPS of $1.15-$1.20. Shares traded lower by 0.38% premarket.
August 01, 2024 | 1:25 pm
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eBay reported Q2 FY24 revenue growth of 1% Y/Y to $2.57 billion, beating the consensus of $2.53 billion. Adjusted EPS of $1.18 also surpassed expectations. The company returned $1.1 billion to shareholders and declared a $0.27 per share dividend. eBay's outlook for Q3 includes revenue of $2.50 billion-$2.56 billion and adjusted EPS of $1.15-$1.20. Shares traded lower by 0.38% premarket.
eBay's strong Q2 results, including revenue and EPS beats, along with a positive Q3 outlook, are likely to have a positive impact on the stock. However, the slight premarket decline suggests some investor caution.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Global X E-commerce ETF (EBIZ) provides exposure to eBay, which reported strong Q2 results with revenue and EPS beating expectations. eBay's positive Q3 outlook may benefit EBIZ.
As an ETF with exposure to eBay, EBIZ is likely to benefit from eBay's strong Q2 performance and positive outlook. The impact is moderate due to the diversified nature of the ETF.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 50
POSITIVE IMPACT
ProShares Online Retail ETF (ONLN) provides exposure to eBay, which reported strong Q2 results with revenue and EPS beating expectations. eBay's positive Q3 outlook may benefit ONLN.
As an ETF with exposure to eBay, ONLN is likely to benefit from eBay's strong Q2 performance and positive outlook. The impact is moderate due to the diversified nature of the ETF.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 50