It ended 2022 in the most ideal way for eBay, as earnings beat estimates, prompting the stock to post a 2% gain in online trading.
Specifically, the company recorded net income of $672 million, or $1.23 per share, compared to $1.97 billion, or $3.25 per share, last year. Analysts polled by FactSet had forecast earnings of $1.07 per share.
Accordingly, in terms of revenue, the company announced $2.51 billion from $2.61 in the previous quarter, with analysts expecting $2.47 billion.
For the full year, the company posted a net loss of $1.27 billion, or $2.27 per share, on revenue of $9.8 billion, which it attributed primarily to impairment of its investments. Analysts had expected earnings of $4.11 per share on revenue of $9.75 billion.
EBay said it expects first-quarter adjusted earnings of $1.05 to $1.09 per share on revenue of $2.46 billion to $2.5 billion, while analysts had expected adjusted earnings of $1.07 per share on revenue of 2, 37 billion dollars.
The company’s board also declared a quarterly dividend of 25 cents per share, a 14% increase from the previous dividend.
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