=eBay (EBAY) reported earnings on Wed 20 Jul 2016 (a/h)

eBay beats by $0.01, beats on revs; guides Q3 EPS in-line, revs above consensus; raises FY16 guidance; announces $2.5 bln buyback :

• Reports Q2 (Jun) earnings of $0.43 per share, excluding non-recurring items, $0.01 better thanthe Capital IQ Consensus of $0.42; revenues rose 5.7% year/year to $2.23 bln vs the $2.17 bln Capital IQ Consensus.
• "Q2 was another good quarter where we delivered strong results and had acceleration in growth"
  • The Marketplace platforms delivered $19.8 billion of GMV and $1.8 billion of revenue in the second quarter.
  • Marketplace revenue was up 3% on an FX-Neutral basis and 1% on an as-reported basis, driven by accelerating GMV growth of 5% on an FX-Neutral basis and 3% on an as-reported basis as well as growth in Marketing Services & Other revenue.
  • StubHub growth accelerated in the quarter, with GMV of $1.1 billion, up 35%, and revenue of $225 million, up 40%, aided by strength across multiple genres and the continued benefit from ongoing product innovation.
  • The Classifieds platforms delivered another quarter of strong performance with revenue of $207 million, up 15%, primarily driven by the Automotive and Real Estate verticals across several key geographies, including Germany and Canada.
• Co issues guidance for Q3, sees EPS of $0.42-0.44, excluding non-recurring items, vs. $0.44 Capital IQ Consensus Estimate; sees Q3 revs of $2.16-2.19 bln vs. $2.14 bln Capital IQ Consensus Estimate.
• Co issues guidance for FY16, raises EPS to $1.85-1.90 from $1.82-1.87, excluding non-recurring items, vs. $1.86 Capital IQ Consensus; raises FY16 revs to $8.85-8.95 bln from $8.6-8.8 bln vs. $8.81 bln Capital IQ Consensus Estimate.
• In July 2016, eBay's board of directors authorized an additional $2.5 billion stock repurchase program, with no expiration from the date of authorization.