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In an undisclosed financial deal, $EBAY acquires Canadian data analysis firm Terapeak, which will be integrated with eBay's Seller Hub that provides access to sales and inventory data for sellers. The deal is expected to close before 2017-end. In 2016, the ecommerce giant had bought data analysis firm SalesPredict and visual search engine Corrigon.
$EBAY, which didn't account the 4MM domestic active buyers in India for 3Q17 as it closed the investment in Flipkart recently, said that it will be opportunistic in building partnerships for different categories. Recently, eBay partnered with Spring, a high-end fashion marketplace.
$EBAY narrowed its adjusted EPS outlook for FY17. Revenue is expected to be $9.53-9.57Bil with GAAP EPS from continuing ops of $1.85-1.90 and non-GAAP EPS from continuing ops of $1.99-2.01. For 4Q17, revenue is estimated to be $2.58-2.62Bil with GAAP EPS from continuing ops of $0.40-0.45 and non-GAAP EPS from continuing ops of $0.57-0.59.
$EBAY, which completed the sale of its India business to Flipkart in Aug. 2017, reported a higher profit in 3Q17, aided by the growth in gross merchandise volume and active buyers. Net income spiked 25% YoY to $523MM and revenue grew 9% to $2.4Bil. Both GAAP and non-GAAP EPS stood at $0.48, representing a hike of 32% and 7%, respectively.
E-commerce marketplace $EBAY has appointed Adriane Brown and Diana Farrell to its BoD. Brown is an adviser with Intellectual Ventures, and currently serves on the BoD of Allergan. Farrell is the Founding President and CEO of think tank JPMorgan Chase Institute. She is also a member of the Board of Trustees at Wesleyan University.
$EBAY has appointed Scott Cutler, Jay Lee and Jooman Park to new regional leadership roles. Cutler has been promoted to SVP, Americas, for its Marketplace business and will continue as head of StubHub, while it searches for a new leader. Lee has been appointed SVP, EMEA, and Park has been promoted to SVP, APAC, for eBay’s Marketplace business.
$EBAY and Flipkart have completed their transaction announced on April 10, 2017. In exchange for an equity stake in Flipkart, eBay has made a $500MM investment in and sold its eBay.in business to Flipkart. Effective immediately, Flipkart will own and operate eBay.in. eBay does not expect this transaction to have a material impact on its guidance.
$EBAY's active buyer growth was stable at 4% as the company added nearly 2MM buyers to its platform in 2Q17. Two years ago, the company began repositioning its business for long-term success. Since then, it added 14MM active buyers while improving the GMV growth. It also delivered well over $4Bil of net income while returning $5Bil to shareholders.
$EBAY recently began building on its brand marketing with the launch of a significant out-of-home campaign in the US, the company's next phase of television and social advertising. The company plans to continue to invest in its brands in 2H17, including the international rollout of the new campaign.
For 3Q17, $EBAY sees net revenue between $2.35Bil and $2.39Bil, with non-GAAP EPS ranging $0.46-0.48 and GAAP EPS ranging $0.30-0.32 from continuing operations. For FY17, net revenue to be between $9.3Bil and $9.5Bil, with non-GAAP EPS ranging $1.98-2.03 and GAAP EPS ranging $1.65-1.75 from continuing operations.
$EBAY's total value of goods sold on its platform, the Gross Merchandise Volume or GMV, was up 3% at $21.5Bil in 2Q17. StubHub, the company's marketplace for concert and sporting tickets, has been seeing slow growth with GMV declining 5% YoY. Marketplace, on a contrary, had a 3% YoY growth.
Earnings of e-commerce giant $EBAY slid significantly to $27MM, or $0.02 per share, from $435MM, or $0.38 per share, a year ago. The company attributes the decline to a non-cash income tax change of $311MM related to the ongoing realignment of its legal structure. On an adjusted basis, earnings grew 5% to $0.45 a share. Revenue rose 4% to $2.3Bil.