(EBAY) 2Q 2016 RESULTS: QUARTER IN LINE, RAISES FULL-YEAR GUIDANCE ON SOLID CUSTOMER GROWTH, ACQUISITIONS

Executive Summary

• eBay reported 2Q16 revenues of $2.2 billion, up 5.7% year over year and slightly above the consensus estimate. Gross merchandise volume (GMV) was $20.9 billion, up 4% year over year as reported and up 6% on a currency-neutral basis. Adjusted EPS was $0.43, as compared to $0.42 in the year-ago quarter, and beating the consensus estimate by a penny.
• StubHub achieved GMV of $1.1 billion, up 35% year over year, and revenues of $225 million, up 40%. Classifieds platforms generated revenue of $207 million, up 15% year over year.
• eBay raised full-year guidance and now expects revenues of $8.85–$8.95 billion, up from prior guidance of $8.6–$8.8 billion. The company also raised EPS guidance to non-GAAP EPS of $1.85–$1.90, up from $1.82–$1.87.