Strong earnings expected from eBay and PayPal
Online auction platform and payment-processing leader both due to post results
Analysts predict eBay earnings for the current quarter, which are due out this week, to come in between $0.40 and $0.44
E-commerce giant eBay will report second quarter earnings this Wednesday, with revenues of $2.17 billion forecast.
The online auction platform last released its earnings results on April 26th, reporting $0.47 earnings per share for the quarter, topping the consensus estimate of $0.45.
The company had revenue of $2.14 billion for that quarter, compared to analysts’ expectations of $2.08 billion. The firm’s revenue for the quarter was up 3.7 per cent on a year-over-year basis.
Analysts predict earnings for the current quarter to come in between $0.40 and $0.44.
That is compared with the $0.42 in earnings per share it reported during the same period last year.
The company is expected to report second quarter revenue of $2.17 billion
Credit Agricole is forecasting the company to post earnings of $1.58 per share for the year, up from their prior forecast of $1.57. Credit Agricole also issued estimates for eBay’s full-year 2017 earnings at $1.71 EPS.
PayPal began trading as a separate company last year, following its spin-off from Ebay. PayPal, a leader in the fast-growing payment processing market, became a separate company on July 18th.
PayPal also has quarterly results on this week, with Wall Street expecting earnings per share of $0.36. The analysts’ current consensus range is $0.34-$0.38 for earnings per share.
The market consensus range for revenue is $2.51 billion to -$2.66 billion, with an average of $2.6 billion.