eBay (EBAY - Free Report) is scheduled to report second-quarter 2023 results on Jul 26.
For the second quarter, the company expects net revenues between $2.47 and $2.54 billion. On an FX-neutral basis, the year-over-year growth in revenues is anticipated to be 1%-4%. On a spot rate basis, the same is expected between 2% and 5%.
The Zacks Consensus Estimate for revenues is pegged at $2.51 billion, implying growth of 3.4% from the year-ago reported figure.
The company anticipates non-GAAP earnings per share between 96 cents and $1.01.
The consensus mark for earnings has remained unchanged at 99 cents per share over the past 30 days. Further, the estimate indicates flatness when compared with the year-ago quarter’s reported figure.
The company beat the Zacks Consensus Estimate for earnings in all the trailing four quarters, the average being 5.8%.
Let’s see how things have shaped up for this announcement.
Key Factors to Note
eBay’s strength across Promoted Listings is expected to have continued to aid its momentum among sellers on the back of data-driven recommendations in the second quarter. It is also likely to have contributed well to the performance of the company’s advertisement business.
The momentum across EBAY’s first-party advertising products might have continued to benefit the business during the to-be-reported quarter.
The growing adoption of the company’s Managed Payments is expected to have continued to benefit the quarter to be reported. eBay’s deepening focus on scaling managed payments globally is likely to have been another tailwind.
This apart, the company is expected to have continued to gain momentum among collectible enthusiasts on the back of its robust tools. This is likely to have benefited its trading card business in the quarter to be reported.
In this regard, the acquisition of TCGplayer, a marketplace for collectible card game enthusiasts, is expected to have benefited the business further.
The launch of the Certified by Brand program might have strengthened eBay’s momentum among luxury brands during the second quarter.
However, softness in eBay’s Marketplace platform and weakening momentum among active buyers are likely to have hurt its gross merchandise volume (GMV) in the quarter under review.
The impacts of rising inflationary pressure are likely to get reflected in the upcoming results.
The Zacks Consensus Estimate for the active buyer base stands at 133 million, reflecting a decline of 3.6% from the year-ago reported figure.
The Zacks Consensus Estimate for GMV is pegged at $18.1 billion, indicating a fall of 2.5% from the reported figure in the prior-year quarter.
What Our Model Says
Our proven model does not conclusively predict an earnings beat for eBay this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. That is not the case here.
eBay has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
The company carries a Zacks Rank #4 (Sell) at present.
Stocks to Consider
Here are some companies worth considering from the same space, as our model shows that these have the right combination of elements to beat on earnings in the soon-to-be-reported quarterly results.
Meta Platforms (META - Free Report) has an Earnings ESP of +5.83% and a Zacks Rank #2 at present. You can see the complete list of today's Zacks #1 Rank stocks here.
Meta is scheduled to release second-quarter 2023 results on Jul 26. The Zacks Consensus Estimate for META’s earnings is pegged at $2.87 per share, suggesting growth of 16.7% from the prior-year fiscal period’s reported figure.
Carrier Global (CARR - Free Report) has an Earnings ESP of +1.53% and a Zacks Rank #3 at present.
Carrier is set to report second-quarter 2023 results on Jul 27. The Zacks Consensus Estimate for CARR’s earnings is pegged at 76 cents per share, suggesting growth of 10.1% from the prior-year fiscal period’s reported figure.
Itron (ITRI - Free Report) has an Earnings ESP of +13.78% and sports a Zacks Rank #1 at present.
Itron is scheduled to release second-quarter 2023 results on Aug 3. The Zacks Consensus Estimate for ITRI’s earnings is pegged at 31 cents per share, suggesting a jump from the prior-year quarter’s reported figure of 7 cents.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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eBay (EBAY - Free Report) is scheduled to report second-quarter 2023 results on Jul 26.
For the second quarter, the company expects net revenues between $2.47 and $2.54 billion. On an FX-neutral basis, the year-over-year growth in revenues is anticipated to be 1%-4%. On a spot rate basis, the same is expected between 2% and 5%.
The Zacks Consensus Estimate for revenues is pegged at $2.51 billion, implying growth of 3.4% from the year-ago reported figure.
The company anticipates non-GAAP earnings per share between 96 cents and $1.01.
The consensus mark for earnings has remained unchanged at 99 cents per share over the past 30 days. Further, the estimate indicates flatness when compared with the year-ago quarter’s reported figure.
The company beat the Zacks Consensus Estimate for earnings in all the trailing four quarters, the average being 5.8%.
Let’s see how things have shaped up for this announcement.
Key Factors to Note
eBay’s strength across Promoted Listings is expected to have continued to aid its momentum among sellers on the back of data-driven recommendations in the second quarter. It is also likely to have contributed well to the performance of the company’s advertisement business.
The momentum across EBAY’s first-party advertising products might have continued to benefit the business during the to-be-reported quarter.
The growing adoption of the company’s Managed Payments is expected to have continued to benefit the quarter to be reported. eBay’s deepening focus on scaling managed payments globally is likely to have been another tailwind.
This apart, the company is expected to have continued to gain momentum among collectible enthusiasts on the back of its robust tools. This is likely to have benefited its trading card business in the quarter to be reported.
In this regard, the acquisition of TCGplayer, a marketplace for collectible card game enthusiasts, is expected to have benefited the business further.
The launch of the Certified by Brand program might have strengthened eBay’s momentum among luxury brands during the second quarter.
However, softness in eBay’s Marketplace platform and weakening momentum among active buyers are likely to have hurt its gross merchandise volume (GMV) in the quarter under review.
The impacts of rising inflationary pressure are likely to get reflected in the upcoming results.
The Zacks Consensus Estimate for the active buyer base stands at 133 million, reflecting a decline of 3.6% from the year-ago reported figure.
The Zacks Consensus Estimate for GMV is pegged at $18.1 billion, indicating a fall of 2.5% from the reported figure in the prior-year quarter.
What Our Model Says
Our proven model does not conclusively predict an earnings beat for eBay this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. That is not the case here.
eBay has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
The company carries a Zacks Rank #4 (Sell) at present.
Stocks to Consider
Here are some companies worth considering from the same space, as our model shows that these have the right combination of elements to beat on earnings in the soon-to-be-reported quarterly results.
Meta Platforms (META - Free Report) has an Earnings ESP of +5.83% and a Zacks Rank #2 at present. You can see the complete list of today's Zacks #1 Rank stocks here.
Meta is scheduled to release second-quarter 2023 results on Jul 26. The Zacks Consensus Estimate for META’s earnings is pegged at $2.87 per share, suggesting growth of 16.7% from the prior-year fiscal period’s reported figure.
Carrier Global (CARR - Free Report) has an Earnings ESP of +1.53% and a Zacks Rank #3 at present.
Carrier is set to report second-quarter 2023 results on Jul 27. The Zacks Consensus Estimate for CARR’s earnings is pegged at 76 cents per share, suggesting growth of 10.1% from the prior-year fiscal period’s reported figure.
Itron (ITRI - Free Report) has an Earnings ESP of +13.78% and sports a Zacks Rank #1 at present.
Itron is scheduled to release second-quarter 2023 results on Aug 3. The Zacks Consensus Estimate for ITRI’s earnings is pegged at 31 cents per share, suggesting a jump from the prior-year quarter’s reported figure of 7 cents.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
4 Oil Stocks with Massive Upsides
Global demand for oil is through the roof... and oil producers are struggling to keep up. So even though oil prices are well off their recent highs, you can expect big profits from the companies that supply the world with "black gold."
Zacks Investment Research has just released an urgent special report to help you bank on this trend.
In Oil Market on Fire, you'll discover 4 unexpected oil and gas stocks positioned for big gains in the coming weeks and months. You don't want to miss these recommendations.
Download your free report now to see them.
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