NEW YORK, September 15, 2015 /PRNewswire/ --
ACI Association has initiated research coverage on eBay
Inc. (NASDAQ: EBAY). Select highlights from the internally
released reports are being made available to the general public
(included below), with access to the entirety of the research
available to new members.
Today, membership is open to readers on a complementary basis at
the following URL:
http://www.aciassociation.com/reports?keyword=EBAY
Highlights from our EBAY Report include:
- eBay delivers mixed results, EPS exceeded
consensus estimate - In a press release dated July 16, 2015, e-commerce giant eBay Inc.
reported its second quarter fiscal 2015 results just a day before
the Company officially spun off its payments business, PayPal. eBay
reported that it realized revenue of $4.4
billion (powered by high growth in both eBay and PayPal
business), excluding the contribution of $0.3 billion of eBay Enterprise unit revenue
which the Company is in the process of selling for about
$925 million. GAAP income from
continuing operations clocked in at $682
million or $0.56 per diluted
share while non-GAAP income from continuing operations was
$931 million or $0.76 per diluted share, driven by an
acceleration in revenue growth at both businesses.
- PayPal Shines, extended its streak of positive growth -
PayPal net total payment volume (TPV) was $66 billion, an increase of 20%, with Merchant
Services volume up 27% and on-eBay volume down 1%. On an FX-neutral
basis, PayPal TPV grew 28%, with Merchant Services volume up 36%
and on-eBay volume up 6%. Payment volume through eBay Marketplaces
was $14.5 billion, representing 22%
of total TPV. Revenue grew to $2.3
billion, up by 14% Y-o-Y. Paypal now has 169 million active
accounts, up 11% from the same three-month period last year and
processed 1.1 billion transactions.
- Operational metrics - The release highlighted that the
Company's Board of Directors has authorized the Company's
management to divest its Enterprise business. Based on the expected
sales proceeds, the Company recorded an impairment of eBay
Enterprise goodwill in the amount of c. $786
million. GAAP operating margin declined to 16.9%,
compared to 20.8% for the same period last year.
- Guidance - For Full year 2015, eBay expects net revenues
to grow 3% - 5% on an FX-neutral basis with GAAP earnings per
diluted share in the range of $1.40 -
$1.45 and non-GAAP earnings per diluted share in the range
of $1.72 - $1.77. PayPal revenue is
expected to grow 15%-18% on an FX-neutral basis while GAAP earnings
have been projected to clock in at $0.89-$0.95.
To find out how this influences our rating on eBay Inc., read
the full report in its entirety here:
http://www.aciassociation.com/reports?keyword=EBAY
--
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