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July 17, 2019, 4:26 p.m. EDT

EBay stock rises after earnings beat

Analysts surveyed by FactSet had estimated adjusted earnings of 62 cents a share on revenue of $2.68 billion.

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By Max A. Cherney


Bloomberg
EBay said it expects third-quarter adjusted earnings of 62 cents to 65 cents a share on sales of $2.61 billion to $2.66 billion.

EBay Inc. /zigman2/quotes/204653455/composite EBAY +1.42%  shares rose 3.6% in the extended session Wednesday after the company beat earnings expectations.

The company reported second-quarter net income of $402 million, or 46 cents a share, compared with $642 million, or 64 cents a share, in the year-ago period. Adjusted for items such as stock-based compensation and tax effects, among other things, earnings were 68 cents a share. Revenue rose to $2.69 billion from $2.64 billion in the year-ago period.

Analysts surveyed by FactSet had estimated adjusted earnings of 62 cents a share on revenue of $2.68 billion.

For the third quarter, analysts model adjusted earnings of 63 cents a share on sales of $2.68 billion.

EBay said it expects third-quarter adjusted earnings of 62 cents to 65 cents a share on sales of $2.61 billion to $2.66 billion.

EBay stock has gained 39% this year, with the S&P 500 index /zigman2/quotes/210599714/realtime SPX +2.28%   rising 20%.

/zigman2/quotes/204653455/composite
US : U.S.: Nasdaq
$ 29.19
+0.41 +1.42%
Volume: 12.01M
April 2, 2020 4:00p
P/E Ratio
14.00
Dividend Yield
2.19%
Market Cap
$22.91 billion
Rev. per Employee
$768,143
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/zigman2/quotes/210599714/realtime
US : S&P US
2,526.90
+56.40 +2.28%
Volume: 3.87B
April 2, 2020 5:11p
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Max A. Cherney is a MarketWatch reporter based in San Francisco. Follow him on Twitter @chernandburn.

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