EBAY eBay Inc

   By Maria Armental 
 

EBay Inc. added $3 billion for planned stock repurchases and revised financial targets to reflect the sale of its StubHub ticketing business to Viagogo.

On Thursday, eBay said given the $4.05 billion cash infusion from the sale, it now expects to buy back $4.5 billion worth of its stock, up form its previous view of $1.05 billion.

Also, accounting for the sale of the StubHub business and the benefit from planned higher share repurchases, it now expects to make 54 cents to 57 cents a share in the March quarter, or 72 cents to 75 cents a share as adjusted, on $2.31 billion to $2.36 billion in revenue. It had previously guided for a profit of 50 cents to 53 cents a share, or 70 cents to 73 cents a share as adjusted, on $2.55 billion to $2.60 billion in revenue.

For the year, it now expects profit to reach $2.20 to $2.30 a share, or $3 to $3.10 a share as adjusted, on $9.56 billion to $9.76 billion in revenue.

Write to Maria Armental at maria.armental@wsj.com

(END) Dow Jones Newswires

February 13, 2020 17:04 ET (22:04 GMT)

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