EBay Inc EBAY shares are trading lower in Wednesday's after-hours session after the company reported better-than-expected results. The stock appears to be being weighed down by weak earnings guidance.
What Happened: eBay reported fourth-quarter revenue of $2.51 billion, down 4% year-over-year, but topped analyst estimates of $2.46 billion. The e-commerce marketplace company reported quarterly earnings of $1.07 per share, which beat estimates of $1.06 per share, according to Benzinga Pro.
"Our focus category playbook continues to drive underlying growth in our business and the investments we've made in core technology are enabling us to innovate on behalf of our customers more quickly," said Jamie Iannone, CEO of eBay.
"Our Q4 results demonstrate the continued resilience of our marketplace amid economic uncertainty," said Steve Priest, CFO of eBay.
eBay sees first-quarter revenue in a range of $2.46 billion to $2.5 billion versus estimates of $2.37 billion. The company expects first-quarter earnings to be between 77 cents and 81 cents per share versus estimates of $1.06 per share.
See Also: After-Hours Alert: Why Unity Stock Is Falling
EBAY Price Action: eBay shares are down 4.28% after hours at $45.80 at the time of writing, according to Benzinga Pro.
Photo: courtesy of eBay.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date | ticker | name | Actual EPS | EPS Surprise | Actual Rev | Rev Surprise |
|---|
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
