eBay beats by $0.03, reports revs in-line; guides Q2 EPS below consensus, revs in-line; reaffirms FY14 EPS guidance, revs guidance
Reports Q1 (Mar) earnings of $0.70 per share, $0.03 better than the Capital IQ Consensus Estimate of $0.67; revenues rose 13.7% year/year to $4.26 bln vs the $4.22 bln consensus.
PayPal net total payment volume (TPV) grew 27% with Merchant Services volume up 32% and on-eBay volume up 15%. Revenue grew to $1.8 billion. PayPal gained 5.8 million new active registered accounts to end the quarter at 148 million, up 16%.
eBay Marketplaces gross merchandise volume (GMV) grew 12%, with the U.S. up 11% and International up 13%. Revenue grew to $2.2 billion. Marketplaces gained 4.7 million new buyers to end the quarter with 145 million active buyers, up 14%.
Co issues mixed guidance for Q2, sees EPS of $0.67-0.69, excluding non-recurring items, vs. $0.70 Capital IQ Consensus Estimate; sees Q2 revs of $4.325-4.425 bln vs. $4.39 bln Capital IQ Consensus Estimate.
Co reaffirms guidance for FY14, sees EPS of $2.95-3.00, excluding non-recurring items, vs. $2.99 Capital IQ Consensus Estimate; sees FY14 revs of $18.0-18.5 bln vs. $18.25 bln Capital IQ Consensus Estimate.