eBay Delivers Double Beat
eBay Inc (NASDAQ:EBAY) shares are 6% in the green in the pre-market after the company reported earnings of $0.43 per share on revenue of $2.23 billion for the second quarter, beating estimates by $0.01 per share and $60 million, respectively. Sales rose by 5.7% year-over-year on the back of GMV growth of 5% on a FX-Neutral basis and 1% growth on an as-reported basis. The company’s classified platforms and StubHub segment also delivered strong growth. In addition, the company bought back $500 million of common stock in the time period and its Board approved an additional $2.5 billion stock repurchase authorization. Management expects non-GAAP EPS to come in at $1.85-to-$1.90 for the full 2016 year, on revenue of $8.85 billion-to-$8.95 billion. Of the 766 funds that we track, 57 funds owned $2 billion in shares of eBay Inc (NASDAQ:EBAY) on March 31, which accounted for 7.10% of the float.
QUALCOMM Results Come In Better-Than-Expected
Everybody’s favorite mobile chip play QUALCOMM, Inc. (NASDAQ:QCOM) reported better than expected results for its fiscal third quarter of 2016, announcing EPS of $1.16 on revenue of $6.03 billion, beating the consensus marks by $0.19 per share and $450 million, respectively. Operating cash flow was a respectable $1.8 billion. In contrast to previous quarters, revenue actually increased by 3.4% year-over-year and by 9% on a sequential basis. The company made meaningful progress with licensing in China and management remains confident in the company’s investments in 5G and other advanced technologies that should ensure more product demand in the future. For the fiscal fourth quarter, the company sees adjusted EPS coming in at $1.05-to-$1.15 on revenue of $5.4 billion-to-$6.2 billion. The number of funds in our system with holdings in QUALCOMM, Inc. (NASDAQ:QCOM) fell by nine quarter-over-quarter to 59 as of the end of March.