eBay Jumps 6% After Q4 Earnings Beat
eBay (NASDAQ: EBAY) is up more than six percent after the popular auction site announced its fourth quarter results.
The company reported a Q4 EPS of $0.81 versus the Street estimate of $0.63.
Earnings per share were up 47 percent from the year-ago period.
Revenue arrived at $4.5 billion versus the Street estimate of $3.9 billion. Sales were up 32 percent year-over-year.
Looking ahead, eBay expects its Q1 sales to fall within the $4.15 billion and $4.25 billion range, which is slightly lower than the Street estimate of $4.3 billion.
eBay projected FY2014 sales of $18 billion to $18.5 billion versus the Street estimate of $18.5 billion.
During FY2015, eBay expects its sales to fall within the $20.5 billion to $21.5 billion range versus the Street estimate of $21.3 billion.
In addition to its earnings, eBay announced that it had received a non-binding proposal from Carl Icahn to spin off Paypal. Two Icahn Enterprises (NASDAQ: IEP) team members were nominated to the Board.
Speaking to Bloomberg TV, Icahn said that eBay's earnings were "lagging" but referred to the company as a "value situation." He also said that eBay shares were a "no-brainer" but argued that the firm has not done as well as it should have "for itself."
Disclosure: At the time of this writing, Louis Bedigian had no position in the equities mentioned in this report.
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