eBay Inc. (EBAY - Free Report) recently announced an expansion of at its management level. It appointed two members, Adriane Brown and Diana Farrell, to its board of directors.
Details of Appointment
Adriane Brown has served at many reputed organizations in important positions. Currently, she is an advisor with Intellectual Ventures, LLC, where she also served as president and chief operating officer. She started her career at Corning, Inc. as a shift supervisor and later rose to many reputable positions. She also worked with Honeywell International.
Diana Farrell is currently the founding president and chief executive officer at JPMorgan Chase Institute. Prior to that, she worked with McKinsey & Company, Inc. and many other firms. Her career took off at Goldman Sachs.
Management believes that the experience in leadership, strategy and policy expertise in a variety of sectors that Brown and Farrell bring with them will be instrumental in helping the company achieve long-term goals.
2Q Earnings Results & Guidance
eBay delivered decent second-quarter 2017 results, wherein revenues of $2.3 billion were above the Zacks Consensus Estimate. Revenue growth was driven by strength in international markets, increase in active buyers, expansion of new user experience and brand advertising. eBay added 2 million active buyers in the second quarter taking the total to 171 million. However, adjusted earnings of 34 cents missed estimates.
For the upcoming quarter, eBay expects revenues to grow 6-8% on an Fx-neutral basis to $2.35-$2.39 billion, better than the Zacks Consensus Estimate of $2.36 billion at the midpoint. Non-GAAP earnings are expected within 46-48 cents. The Zacks Consensus Estimate is pegged at 48 cents. GAAP earnings per share from continuing operations are expected in the range of 30-32 cents.
The company is expected to report third-quarter results on Oct 18.
eBay is one of the largest online retailers in the world. The company’s focus on improving buyers’ experience, opportunities in the fast-growing mobile space, international expansion and a strong balance sheet are likely to boost long-term growth.
Currently, the company is re-platforming itself by building product catalogs on structured data, enhancing mobile platform, rolling out new browse-inspired shopping journeys and strengthening its brand.
Overall, we remain positive on eBay’s solid execution and new initiatives. Its unique capabilities backed by technological improvements give it an edge over competitors such as Etsy, Inc. (ETSY - Free Report) , Alibaba Group Holding Limited (BABA - Free Report) and Facebook (FB - Free Report) .
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