Excluding items, eBay earned 76 cents per share in the quarter.
EBay has sold its Enterprise arm for $925m (£593m) and beat forecasts for its second-quarter profits as it prepares to spin off PayPal.
EBay also announced selling its EBay Enterprise warehouse and logistics business for $925 million, likely buyers being a consortium led by private equity firm Permira. EBay expects revenue to grow 3% to 5% adjusted for currency impacts, with adjusted earnings per share falling in the range of $1.72 to $1.77.
PayPal becomes a separate company on Friday, with shares in the payments firm trading at between $34 and $40 before the formal separation, making it worth nearly $44bn. That compared to Thomson Reuters consensus estimates of $0.73 in EPS on $4.49 billion in revenue.
The less-publicized business helps physical retailers looking to recreate their brick and mortar shopping experience online.
In 2011, while announcing the deal, eBay’s CEO John Donahoe said he was purchasing GSI Commerce in responce to the shifting retail landscape.
But PayPal will also face the big challenge of increased competition in its field, as Apple and Google move into its niche.
eBay will come out of this separation with its valuation and share prices lower than PayPal’s, and analysts say stock owners who bought eBay shares so they could own PayPal will likely dump them next week. This is the final quarter eBay Inc (NASDAQ:EBAY)’s earnings include PayPal’s earnings, which grew by 16% to $2.26 billion, as the split advocated by billionaire activist investor Carl Icahn has been confirmed to be going through tomorrow.
Tomorrow, the minute before the clock strikes midnight, eBay and PayPal will part ways.
Payment volume on eBay Marketplaces was $14.5 billion for the quarter, with accounts for 22 percent of total payment volume.
The unit suffered a blow last week when Toys “R” Us Inc., one of its larger customers, said it would take its USA business in-house by mid-2016. “Launching PayPal and eBay as independent companies is clearly the best path for each business and the right approach for delivering sustainable value to shareholders”. Sales decreased 3 percent to $2.1 billion for the online marketplace unit.
As the PayPal spinoff nears, eBay has been cleaning house.