eBay Inc. (EBAY - Free Report) just released its first quarter 2017 financial results, posting earnings of $0.49 per share and revenues of $2.22 billion. Currently, eBay is a Zacks Rank #3 (Hold), and is down 0.13% to $33.81 per share in after-hours trading shortly after its earnings report was released.
Beat earnings estimates. The company posted earnings of $0.49 per share (excluding $0.51 from non-recurring items), topping the Zacks Consensus Estimate of $0.40 per share.
Beat revenue estimates. The company saw revenue figures of $2.22 billion, beating our consensus estimate of $2.21 billion.
eBay’s revenue was $2.22 billion, up 4%, from $2.14 billion last quarter. The company’s increased quarterly revenue was spurred in part by its revamped web platform. eBay added two million active buyers across its platforms in the first quarter, which helped lead to a $20.9 billion Gross Merchandise Volume.
eBay generated $582 million of operating cash flow and $447 million of free cash flow. The company repurchased $350 million of common stock.
eBay expects net revenues between $2.28 billion and $2.32 billion in the second quarter. For full-year 2017, the company expects net revenues between $9.3 billion and $9.5 billion.
"The first quarter was a strong start to the year with accelerating growth in active buyers, revenue and our core U.S. business," Devin Wenig, eBay’s president and CEO, said in a press release.
"We are on the right path as we continue to evolve our shopping platform for consumers, leverage our technology advantages and market a sharpened eBay brand globally."
Here’s a graph that looks at eBay’s Price, Consensus and EPS Surprise history:
eBay is one of the world's largest online trading communities. eBay creates a powerful marketplace for the sale of goods and services by a passionate community of individuals and small businesses. eBay enables trade on a local, national and international basis with local sites in numerous markets in the United States and country-specific sites in the United Kingdom, Canada, Germany, Austria, France, Italy, Japan, Korea and Australia. (Company Press Release)
Check back later for our full analysis on eBay’s earnings report!
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