For the first quarter of 2023, eBay Inc. (EBAY) announced non-GAAP earnings of $1.11 per share, which was 4.7% higher than the Zacks Consensus Estimate. Year after year, profits went up by 5%.
The company’s $2.51 billion in net sales was higher than the $2.48 billion predicted by market analysts. On a reported basis, the number is up 1% from the same period a year ago, and FX-neutral, it’s up 3%.
- Revenue of $2.5 billion, up 1% on an as-reported basis and up 3% on an FX-Neutral basis
- Gross Merchandise Volume of $18.4 billion
- GAAP and Non-GAAP EPS per diluted share of $1.05 and $1.11, respectively, on a continuing operations basis
- GAAP and Non-GAAP operating margin of 22.2% and 29.6%, respectively
- Returned $384 million to shareholders in Q1, including $250 million of share repurchases and $134 million paid in cash dividends
The increasing interest in EBay’s advertising options served as a positive tailwind.
Revenues from eBay’s Promoted Listings totaled $285 million, an increase of 27% on a reported basis and 31% on an FX-neutral basis compared to the same period last year. As a result, interest grew in all of EBAY’s first-party advertising options.
Revenues from all forms of advertising came to $317 million, up 18.7 percent from the previous year.
Looking ahead, eBay anticipates revenue for the second quarter of 2023 to be in the $2.47 to $2.54 billion range, reflecting organic growth that is forex-neutral and ranges from 1% to 4%. It forecasts adjusted Q2 EPS in the range of $0.96 and $1.00.
“EBay seems to be gaining its original innovative mojo with improved payment, marketing, storage, user interface, and authentication,” said Michael Ashley Schulman, chief investment officer at Running Point Capital Advisors.
“Yet their potential earnings growth and turnaround capabilities don’t seem to be baked into the stock price.”
Target is currently trading around $170 and eBay Inc. (EBAY) is trading currently at $45. Etsy is trading around $100. If you compare it with (EBAY) it can easily reach over $100 a share by end of 2023 which makes it a better investment and buy opportunity for the savvy investor.
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