Proactive Investors - eBay Inc (NASDAQ:EBAY, ETR:EBA) shares were lifted in afterhours trade on Tuesday by its better-than-expected fourth quarter and full-year financial results and strong profit guidance for the current quarter.
eBay forecast first quarter adjusted earnings per share (EPS) of $1.19 to $1.23, above Wall Street estimates of $1.13.
Revenue is expected to be in the range of $2.5 billion to $2.54 billion, short of estimates of $2.56 billion.
Revenue for 4Q was $2.6 billion, up 2% on an as-reported basis and ahead of eBay’s guidance of $2.47 billion to $2.53 billion. Adjusted EPS was $1.07, ahead of the $1 to $1.05 guided.
For the full year, eBay reported revenue of $10.1 billion and adjusted EPS of $4.24. Revenue fell short of eBay’s guidance of $10.02 billion to $10.08 billion while adjusted EPS topped its forecast of $4.17 to $4.22.
“Our organic gross merchandise value (GMV) growth improved year-over-year during each quarter of 2023, while navigating a challenging macroeconomic environment,” eBay CEO Jamie Iannone commented.
“Our results demonstrate the strength of our strategy, and I’m proud of our accelerated pace of innovation as we work to fundamentally enhance the customer experience on eBay.”
Shares of eBay gained 5.3% at US$46.73 shortly following the release of its earnings report.