The Clap EBay beat analysts’ expectations in Q2-2022 while giving a positive outlook on future forecasts.
The Deets According to Bloomberg, sales decreased by 9% in Q2-2022 but still managed to beat expectations coming in at $2.42 billion. Earnings also surpassed expectations, recorded at 0.99 cents.
In Q3-2022, sales are expected to reach between $2.29-$2.37 billion, in line with analysts’ expectations of $2.3 billion. The same applies to earnings, which are expected to reach 0.89-0.95 cents/share.
Profit Drivers A focus on luxury items and collectibles has largely driven earnings to beat expectations.
In June, Ebay revealed a 31,000-square-foot vault that allows collectors to store valuable goods and sell them to other buyers. This directly competes with other sites that focus on the sale of luxury goods, like The RealReal.