EBay earnings (NASDAQ:EBAY) were released late in the day on Tuesday and the company’s stock was higher after hours thanks to an earnings and revenue beat for its last period of its fiscal year.
For its fourth quarter of 2018, the online marketplace announced net income of $763 million, or 80 cents per share, beating the year-ago losses of $2.6 billion, or $2.51 per share. On an adjusted basis when considering changes to the U.S. tax code and other items, the company’s profit was 71 cents per share, ahead of the 59 cents per share from the year-ago quarter.
Analysts were calling for eBay to bring in adjusted earnings of 68 cents per share, according to data compiled by FactSet. The site added that its revenue reached $2.88 billion for the period, ahead of the $2.71 billion from the year-ago quarter and beating the $2.86 billion that analysts called for, per FactSet.
“In 2019, our focus will be on further improvements to the eBay user experience, while pursuing significant long-term growth opportunities in advertising and payments,” eBay CEO Devin Wenig said in a statement. “We are confident in the strength of our business and future growth prospects, as demonstrated by our decision to institute eBay’s first-ever dividend and increase our share repurchase program.”
The online marketplace will roll out a dividend of 14 cents per share, offering the first quarterly payment on March 20 to shareholders of record as of March 1. The company will also buy back $5 billion worth of stock in 2019.
EBAY stock is up a fraction of a percentage after the bell on Tuesday following the company’s strong quarterly earnings and revenue showing to end its fiscal 2018. Shares had been sliding close to 1% during regular trading hours as the company geared up to report for its latest period.
