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Shares of eBay Inc. (NASDAQ:EBAY) sold off during Wednesday’s after hours session following the release of the company’s Q4 earnings results and weak Q1 guidance.
Management saw the fourth quarter generating $475 million in operating cash flow with $372 million of free cash flow from continuing operations. The company returned $3.1 billion to shareholders with $3.0 billion utilized in share repurchases and $107 million paid out in dividends. Both annual active buyers and sellers declined, by 9% to 147 million and 8% to 17 million, respectively.
The company highlighted the completion of the eBay Korea sale to Emart for approximately $3.0 billion, retaining 19.99% remaining interest valued at $725 million. eBay also reduced ownership of Adevinta to 33% by selling 135 million shares to Permira for $$2.3 billion. Additionally, management highlighted the acquisition of “Sneaker Con’s authentication business, Sneaker Con Digital with operations in the U.S., U.K., Canada, Australia, and Germany.
eBay Inc. operates one of the largest e-commerce marketplaces in the world with $85 billion in 2020 gross merchandising volume. The company generates revenue from listing fees, advertising, revenue-sharing arrangements with service providers, and managed payments.
At the time of publication, shares of eBay were trading 10.6% lower during after hours at $48.81. The stock had a 52-week low of $51.51 (now broken) and a 52-week high of $81.19.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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