eBay after the bell 7-19-06: what to look for in Q2

eBay caught the Yahoo! bug today as its share price shed nearly 2.5% of its value, or 66 cents to close at $25.93 on a day where the Nasdaq gained more than 1.8%.

In the past 15 minutes eBay sank more than 4% and is now trading below $25.

At 5:00 P.M. Sarah Gilbert will start Live Blogging eBay's webcast of Q2 results. Things to watch in Q2 earnings report:

• Core listings growth - this has been one of major concerns of eBay investors - and the shift towards SIF (store inventory format)
• PayPal vs. Google (GOOG) Checkout
• Recent management shakeup comments, especially Jordan's departure
• Impact of partnership with Yahoo (YHOO) regarding both search and PayPal
• Statements about eBay Express going forward

Estimates:

• eBay guidelines call for adjusted earnings between 22 and 23 cents per share, on sales of $5.7 billion to $5.9 billion.
• Consensus estimates are for average earnings of 24 cents per share on revenue of $1.41 billion. The estimates exclude stock options expenses.