eBay beats by $0.02, beats on revs; guides Q2 EPS below consensus, revs above consensus; guides FY16 revs in-line
* Reports Q1 (Mar) earnings of $0.47 per share, excluding non-recurring items, $0.02 better than the Capital IQ Consensus of $0.45; revenues rose 3.7% year/year to $2.14 bln vs the $2.08 bln Capital IQ Consensus.
* Co issues mixed guidance for Q2, sees EPS of $0.40-0.42, excluding non-recurring items, vs. $0.44 Capital IQ Consensus Estimate; sees Q2 revs of $2.14-2.19 bln vs. $2.14 bln Capital IQ Consensus Estimate.
* Co issues in-line guidance for FY16, sees FY16 revs of $8.6-8.8 bln from $8.5-8.8 bln vs. $8.73 bln Capital IQ Consensus Estimate.
* Underlying total eBay Inc. performance, the Marketplace platforms delivered $19.6 billion of GMV and $1.8 billion in revenue for the first quarter. Marketplace revenue was up 3% on an FX-Neutral basis and flat year over year on an as-reported basis, driven by stable GMV growth and strong performance in Marketing Services & Other. StubHub had another quarter of strong performance, driving GMV of $869 million and revenue of $177 million, up 34%, aided by strength in sports and concerts in addition to a number of product innovations. The Classifieds platforms delivered another quarter of accelerating growth with revenue of $186 million, up 17% on an FX-Neutral basis and up 15% on an as-reported basis, primarily driven by strong performance in Germany and the United Kingdom. In Q1, eBay continued to increase the amount of inventory on its platforms, with over 900 million live listings available at any time.