Array

Ebay Posts Strong Q2 with Net Profit of $412 Million

Must Read

Internet commerce company Ebay Inc beats the expectations of speculators with strong Q2 results with net profit of $412 Million. Ebay share rose 3.6% hours after company predicted that PayPal results would strong throughout the year. For Q2 company has booked $2.2 Billion in revenue. The company had a 15 percent gain in adjusted revenue, which excluded Skype, eBay’s former Internet telephone unit, which it recently sold.

Ebay’s net profit was $412 million, or 31 cents per share, compared with $327 million, or 25 cents per share, a year ago. Ebay’s earnings “reflect both the recovery in the economy and the company’s effort to move toward fixed price offerings,” said Benchmark Capital’s Fred Moran. Net revenue rose 6 percent to $2.2 billion. Analysts, on average, had expected revenue of $2.16 billion, according to Thomson Reuters I/B/E/S.

Chief Executive John Donahoe told analysts on a conference call the company was “cautious for the second half of the year in the United States in terms of the macro environment.”

Advertisements

EBay has been striving to convince investors that, midway through a three-year turnaround, it is improving its marketplaces unit. That unit joins sellers with buyers and now focuses mostly on full-price, rather than auction-type, sales.

“Users are coming back more frequently and they’re buying more. That is leading to new users,” Donahoe said. But he added that he was not satisfied with marketplace division results in the United States, the company’s “toughest and most competitive market.”

“However, we remain confident our turnaround is on track,” he said.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest News

Amazon Luna Is Here To Eat Into The Cloud Gaming Market, Dominated By Google And Microsoft

The cloud gaming space has been one of the key interest areas of Amazon for quite some...

Facebook’s Chasm Of Distrust: An Ever-Deepening Divide

Facebook, the world's most popular social media platform has failed measurably as it is voted as the least trusted social media platform...

With 9.8 Million Users Coursera Observes Boom Of Online Education In India

The global outbreak of Covid-19 has changed the lifestyle of people and almost every industry has resorted to online in a bid...

TikTok Oracle Deal: An Eyewash Or Mockery?

On Saturday, within few hours of US Department of Commerce announcing the ban on TikTok that would prevent users to download TikTok...

Apple And Google Are Changing Norms: Go Default with Gmail and Chrome On the New iOS 14

For long Apple iPhone and iPad users are forced to use Gmail and Chrome as an optional service on their devices. The...

Apple Store In India: More Of Disappointment Than Excitement?

Apple has started making moves to strengthen its presence in India. With the launch of Apple online store in India today, the...

In-Depth: Dprime

Will ‘TikTok By Microsoft’ Be A Winner?

For the last two years, TikTok has been in the public eye for all sorts of reasons. First, it was the exploded...

Facebook Subscription Model: Looking Beyond Ad Dollars?

Seldom do job listings create a stir this gripping. However, when the job listing in question is a stealth post from Twitter,...

Will The Online Food Delivery Market in India End Up Becoming A Two-Horse Race?

It's pretty much evident that the food delivery space in India is all set to get riled up soon enough as one...

More Articles Like This