EmaileBay (EBAY $43.58 +3.12) reported second quarter earnings of $0.56 per share, excluding non-recurring items, $0.01 better than the Capital IQ Consensus of $0.55, while revenues rose 23.1% year/year to $3.4 billion versus the $3.36 billion consensus. The company issued guidance for the third quarter with EPS of $0.53-0.55, excluding non-recurring items, versus the $0.55 consensus with revenues of $3.3-3.4 billion versus the $3.41 billion consensus. The company reaffirmed guidance for fiscal year 2012 with EPS of $2.30-2.35, excluding non-recurring items, versus the $2.35 consensus and revenues of $13.8-14.1 billion versus the $14 billion consensus. Q2 non-GAAP op margin of 27.3% vs 26.9% last qtr and 27.6% year ago; Q2 active users of 104.8 mln vs 102.4 mln last qtr.
PayPal ended the quarter with 113.2 million active registered accounts, a 13% increase over the second quarter of 2011. PayPal revenue increased 26% year over year, driven primarily by increased penetration on eBay as well as continued merchant and consumer adoption and strong growth in Bill Me Later. "Our entire company is strong, but we're particularly pleased with eBay Marketplaces, which delivered its strongest organic growth in gross merchandise volume, excluding vehicles, since 2006. And mobile continues to be a game changer. We now expect eBay and PayPal mobile to each transact $10 billion in volume in 2012 -- that's more than double 2011, a staggering surge in mobile shopping and payments on devices that did not exist just a few years ago. Retail is at an inflection point, and we are helping to reshape how people around the world shop and pay."
