eBay Reports Solid Third-Quarter Results; Active Marketplaces User Growth Reaches Best Pace Since 2007
On Wednesday, global commerce and payments company eBay (click ticker for report: ) reported solid third quarter performance that showed accelerated growth in both Marketplaces and PayPal. We continue to like the company and hold shares in the portfolio of our Best Ideas Newsletter. Revenue for the third quarter increased 15%, while GAAP and non-GAAP net income jumped 22% and 14%, respectively. The firm’s consolidated operating margin advanced 150 basis points from the same period last year (100 basis points on a non-GAAP basis), as segment margin in each of its three business segments expanded on a year-over-year basis. Cash flow was robust, with eBay pulling in $1.2 billion in operating cash flow and $792 million in free cash flow … Read more