eBay’s headquarters in San Jose, California, United States, on Monday, August 9, 2021.
David Paul Morris | Bloomberg | beautiful pictures
Shares of eBay fell as much as 11% in extended trading on Wednesday after the online marketplace announced fourth-quarter earnings and guided for the first quarter fell short of Wall Street expectations.
Here’s how the company did against Refinitiv consensus expectations for the quarter:
- EPS: $1.05 per old share, vs. 99 cents expected
- Revenue: $2.61 billion, compared with $2.61 billion expected.
EBay predicts first-quarter revenue will hit $2.43 billion to $2.48 billion, down 7% to 5% year-over-year, while analysts have expected revenue average $2.61 billion, according to FactSet.
The company said it expected adjusted earnings of $1.01 to $1.05 per share for the first quarter, below the consensus estimate of $1.08 per share, according to FactSet.
The disappointing guidance eclipsed eBay’s better-than-expected earnings for the fourth quarter. The company posted earnings per share of $1.05, adjusted. Analysts polled by Refinitiv were expecting 99 cents per share.
Revenue was $2.61 billion, in line with Wall Street estimates.
Year-over-year active buyers fell 9% in the quarter to 147 million, far below analysts’ forecast of 156 million active buyers, according to FactSet. Annual active sellers also fell 8% to 17 million.
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