EBay Inc.’s inventory rose 3% in prolonged buying and selling Tuesday after the web market delivered quarterly outcomes that topped analysts’ estimates and issued stout steering, assuaging for now issues over its short-term enterprise prospects.
The e-commerce firm hiked its dividend by two cents and introduced a $2 billion inventory repurchase program.
EBay
EBAY,
rang up fiscal fourth-quarter internet revenue of $728 million, or $1.07 a share, in contrast with internet revenue of $671 million, or $1.07 a share, in the identical quarter a 12 months in the past.
Revenue climbed to $2.56 billion from $2.51 billion within the year-ago quarter.
Analysts surveyed by FactSet had anticipated on common internet revenue of $1.03 a share on income of $2.51 billion.
EBay offered first-quarter gross sales steering of $2.5 billion to $2.54 billion, whereas FactSet analysts are forecasting $2.53 billion.
Shares of eBay have declined 3% over the previous 12 months, whereas the broader S&P 500 index
SPX
has elevated 28%.
Analysts stated eBay’s fourth-quarter efficiency underscores a resilient e-commerce marketplace for customers regardless of their issues over the state of the economic system and competitors from Chinese sellers, Amazon.com Inc.
AMZN,
and Walmart Inc.
WMT,
The outcomes come amid a tough patch for eBay. Last month, the corporate stated it deliberate to slash 9% of its workforce, or about 1,000 folks, within the face of a enterprise slowdown and “challenging” economic system, eBay Chief Executive Jamie Iannone stated in a weblog submit.
Iannone stated the scale of the corporate’s employees and its bills “have outpaced the growth of our business.” EBay can be terminating its relationship with contractors.
Source web site: www.marketwatch.com
