EBay Swings to Loss But Sees Buyer Growth Across Platforms -- Earnings Review
January 31 2018 - 6:54PM
Dow Jones News
By Imani Moise
EBay Inc. reported fourth-quarter earnings after the closing
bell Wednesday. Here's what you need to know:
EARNINGS: The online marketplace reported a loss of $2.6
billion, or $2.51 a share, compared with a profit of $5.94 billion,
or $5.30 a share, in the year-ago period. Adjusted earnings matched
analysts' expectations at 59 cents. A year earlier eBay earned 54
cents a share on an adjusted basis.
REVENUE: Sales rose 9% to $2.61 billion, matching the Wall
Street consensus. Growth was driven by gross merchandise volume,
which increased 10% during the quarter.
TAX WATCH: EBay swung to a loss as it reported a $3.1 billion
charge related to the recently enacted tax overhaul.
OUTLOOK: The company gave a rosy 2018 outlook -- forecasting
adjusted earnings of $2.25 to $2.30 per share on revenue between
$10.9 billion and $11.1 billion. Analysts predicted per-share
profit of $2.23 on $10.28 billion in sales.
USERS: Across all of the company's platforms active buyers grew
5% to 170 million. EBay's platforms includes its namesake
marketplace and ticket vendor StubHub. The company now has 170
million global active buyers.
STOCK MOVE. Shares jumped 3.5% to $42. The stock has risen 27%
so far this year.
Write to Imani Moise at imani.moise@wsj.com
(END) Dow Jones Newswires
January 31, 2018 18:39 ET (23:39 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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