EBay stock jumped late Wednesday after the e-commerce company reported second-quarter results that beat analyst expectations, powered by accelerating revenue growth.
San Jose, Calif.-based eBay said that it earned an adjusted $1.37 per share for the June-ended quarter, up 16% from a year earlier. That beat the $1.30 per share that analysts polled by FactSet were forecasting. Sales increased 6% to $2.73 billion, compared with analyst estimates of $2.64 billion. Revenue growth accelerated significantly from the roughly 1% the company posted in the previous two quarters.
For the current quarter, eBay guided for sales of $2.715 billion at the midpoint of its range. That topped the $2.658 billion in sales for the September quarter that analysts had been projecting, according to FactSet.
"EBay delivered another strong quarter, with results exceeding expectations across the board," eBay Chief Executive Jamie Iannone said in a news release. "Our momentum reflects the strength of our strategic execution and the resilience of our marketplace.
On the stock market today, eBay stock was up more than 8% at 84.01 in recent after-hours action.
EBay Stock Up 26% This Year
Prior to earnings, eBay stock fell 1.2% in regular trading. Shares have gained 26% so far this year and 42.4% in the past 12 months. Compared with its much larger rival Amazon, eBay stock took a more modest hit from tariff concerns in April.
Coming into the report, eBay stock had an IBD Composite Rating of 91 out of 99, according to IBD Stock Checkup. The score combines five separate proprietary ratings into one rating. The best growth stocks have a Composite Rating of 90 or better.
