Ebay Q2 Adj. Profit Top View; Backs FY14 Earnings Outlook - Quick Facts

(RTTNews) - eBay Inc. (EBAY) reported second-quarter net income of $676 million or $0.53 per share, compared to $640 million or $0.49 per share in the year-ago quarter.

Excluding items, adjusted net income for the second quarter was $868 million or $0.69 per share, compared to $822 million or $0.63 per share in the prior year quarter. On average, 37 analysts polled by Thomson Reuters expected the company to earn $0.68 per share. Analysts' estimates typically exclude special items.

Revenue for the latest second quarter rose 13% to $4.37 billion from $3.88 billion in the comparable quarter last year, while 36 analysts had consensus revenue estimate of $4.38 billion for the second quarter.

Looking forward to the third quarter, the company forecasts earnings in the range of $0.51 to $0.53 per share, adjusted earnings of $0.65 to $0.67 per share and revenues in the order of $4.30 billion to $4.40 billion. Analysts currently expect the company to earn $0.70 per share on revenue of $4.42 billion for the third quarter.

For the full year 2014, the company continues to expect earnings of $0.04 to $0.09 per share and adjusted earnings of $2.95 to $3.00 per share. Analysts currently expect earnings of $2.98 per share for full year 2014.

The company now expects revenues of $18.00 billion to $18.30 billion. Previously, the company expected revenues of $18.00 billion to $18.50 billion.

Analysts now expects revenue of $18.24 billion for the full year 2014.