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Mar 31, 2020
eBay Q1 2020 Earnings Report
eBay's Q1 2020 performance was marked by revenue of $2.4 billion and EPS of $0.64, with growth in active buyers and strategic progress in managed payments and promoted listings.
Key Takeaways
eBay Inc. reported first quarter 2020 results, with revenue of $2.4 billion, GAAP EPS of $0.64, and non-GAAP EPS of $0.77. The company returned $4.1 billion to shareholders and completed the sale of StubHub.
Revenue reached $2.4 billion, a 2% decrease year-over-year as reported, but a 1% increase on a foreign exchange neutral basis.
GAAP EPS was $0.64 and non-GAAP EPS was $0.77 per diluted share from continuing operations.
Active buyers increased by 2%, reaching 174 million global active buyers.
The sale of StubHub to viagogo was completed for $4.1 billion in proceeds.
Forward Guidance
For Q2 2020, eBay expects net revenue between $2.38 billion and $2.48 billion, with GAAP earnings per diluted share between $0.50 and $0.57 and non-GAAP earnings per diluted share between $0.73 and $0.80. For full year 2020, eBay expects net revenue between $9.56 billion and $9.76 billion, with GAAP earnings per diluted share between $2.20 and $2.30 and non-GAAP earnings per diluted share between $3.00 and $3.10.
Positive Outlook
- Net revenue between $2.38 billion and $2.48 billion for Q2 2020.
- Organic FX-Neutral revenue growth of 2% - 6% for Q2 2020.
- GAAP earnings per diluted share from continuing operations in the range of $0.50 - $0.57 for Q2 2020.
- Non-GAAP earnings per diluted share from continuing operations in the range of $0.73 - $0.80 for Q2 2020.
- Net revenue between $9.56 billion and $9.76 billion for full year 2020.
Challenges Ahead
- Uncertainty surrounding the extent and duration of the impact of the COVID-19 pandemic.
- Difficulty in predicting the effects of easing and lifting shelter-in-place guidelines.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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