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EBay Inc (EBAY) Earnings Grow Y2Y, Meet Estimates

EBay Inc (NASDAQ:EBAY) reported its fourth-quarter earnings results after hours Wednesday.

eBay Inc (EBAY)The online marketplace posted earnings of 59 cents per share for the quarter on an adjusted basis, in line with the 59 cents per share that analysts were expecting in adjusted earnings. In the year-ago quarter, the company earned 54 cents per share in adjusted profit.

EBay’s revenue missed the mark slightly as the company raked in $2.6 billion for the period, below the Wall Street consensus estimate of $2.61 billion. For the full year, the company reported revenue of $9.6 billion.

“Q4 was a record quarter for eBay, representing the fifth quarter in a row of volume acceleration in our US Marketplace,” said Devin Wenig, President and CEO of eBay, in a statement. “We have made great progress transforming eBay while delivering meaningful growth and we expect further acceleration in 2018 as we continue to execute our strategy.”

The auction site’s buyer growth during the period grew 5% to 170 million, while its Gross Merchandise Volume — meaning the total amount spent on the site — was $24.43 billion, topping the $22.28 billion it drew in a year ago.

For its first quarter of fiscal 2018, eBay forecasts earnings in the range of 52 cents to 54 cents per share on an adjusted basis. The company’s revenue is slated to be between $2.57 and $2.61 billion, while full-year sales are expected to be in the range of $10.9 billion and $11.1 billion.

EBAY stock gained 3.5% after the bell.

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