EBay beats 4Q profit forecasts

SAN JOSE, Calif. -- EBay Inc. (EBAY) on Wednesday reported fourth-quarter earnings of $477 million.

On a per-share basis, the San Jose, California-based company said it had profit of 40 cents.

See Full Article

Earnings, adjusted for one-time gains and costs, were 50 cents per share.

The results topped Wall Street expectations. The average estimate of 29 analysts surveyed by Zacks Investment Research was for earnings of 49 cents per share.

The e-commerce company posted revenue of $2.32 billion in the period, matching Street forecasts.

For the year, the company reported profit of $1.73 billion, or $1.42 per share. Revenue was reported as $8.59 billion.

For the current quarter ending in April, eBay expects its per-share earnings to range from 43 cents to 45 cents.

The company said it expects revenue in the range of $2.05 billion to $2.1 billion for the fiscal first quarter. Analysts surveyed by Zacks had expected revenue of $2.16 billion.

EBay expects full-year earnings in the range of $1.82 to $1.87 per share, with revenue ranging from $8.5 billion to $8.8 billion.

EBay shares have decreased roughly 4 per cent since the beginning of the year, while the Standard & Poor's 500 index has fallen roughly 8 per cent. In the final minutes of trading on Wednesday, shares hit $26.42, a drop of 52 per cent in the last 12 months.



Advertisements

Latest Economic News

  • Ontario rent increases capped at 1.8 per cent next year

    Economic CTV News
    TORONTO - Landlords in Ontario will be able to increase rents up to 1.8 per cent next year, as rent controls are expanded under the Liberal government's housing plan. The annual rent increase guideline is the maximum amount a landlord can boost a tenant's rent without needing the approval of the Landlord and Tenant Board. Source
  • Norsat International investors approve takeover bid from Chinese firm

    Economic CBC News
    ?Norsat International Inc. says its securityholders have voted to approve a controversial takeover of the company by Chinese company Hytera Communications Co. Ltd. The Canadian satellite communications firm says its securityholders voted 72.53 per cent in favour of the offer of $11.50 US per share. Source
  • Cost of Muskrat Falls hydro project rises by another billion, CEO says

    Economic CTV News
    ST. JOHN'S, N.L. -- Costs for the beleaguered Muskrat Falls hydro development in Labrador are up by another $1 billion. Nalcor Energy CEO Stan Marshall says the new price tag is $12.7 billion with financing. Source
  • Sears closes another 20 stores in the U.S.

    Economic CTV News
    NEW YORK -- Sears is closing another 20 U.S. stores as the ailing retailer tries to turn around its business. Real estate investment trust Seritage, which owns the 20 real estate properties, confirmed the closings-- 18 Sears stores and two Kmart stores -- in a government filing Friday. Source
  • Vancouver passes Toronto as 'most expensive' city in Canada

    Economic CTV News
    An annual ranking of the cost of living in hundreds of cities worldwide suggests that Vancouver has overtaken Toronto as the most expensive in Canada, although both remain relatively affordable by global standards. The Mercer 2017 Cost of Living Survey placed Vancouver at 107, followed by Toronto at 119, Montreal at 129, Calgary at 143 and Ottawa at 152. Source
  • Inflation rate cools to 1.3% in May as food prices now cheaper than a year ago

    Economic CBC News
    Food prices have gotten cheaper in the past year, Statistics Canada says. (The Associated Press) The cost of living went up by 1.3 per cent in the year up to May, a slightly slower pace than it increased by a month earlier. Source
  • Inflation rate cools to 1.3% in May as food got cheaper

    Economic CBC News
    Food prices have gotten cheaper in the past year, Statistics Canada says. (The Associated Press) The cost of living went up by 1.3 per cent in the year up to May, a slightly slower pace than it increased by a month earlier. Source
  • Weaker growth in gas prices helps slow annual inflation rate to 1.3 per cent in May

    Economic CTV News
    OTTAWA -- Canadian inflation eased up on the accelerator last month as weaker year-over-year growth in gasoline prices helped slow the annual rate to 1.3 per cent, Statistics Canada said Friday. The May inflation rate was also lower than April's reading of 1.6 per cent because prices declined in electricity, bakery products and Internet access services, the agency said in its latest monthly report. Source
  • Weaker growth in gas prices helps slow inflation

    Economic CTV News
    OTTAWA -- Canadian inflation eased up on the accelerator last month as weaker year-over-year growth in gasoline prices helped slow the annual rate to 1.3 per cent, Statistics Canada said Friday. The May inflation rate was also lower than April's reading of 1.6 per cent because prices declined in electricity, bakery products and Internet access services, the agency said in its latest monthly report. Source
  • Why is the teen summer job disappearing? [Video]

    Economic Toronto Sun
    WASHINGTON — It was at Oregon’s Timberline Lodge, later known as a setting in the horror movie “The Shining,” where Patrick Doyle earned his first real paycheque. He was a busboy. The job didn’t pay much. But Doyle quickly learned lessons that served him for years as he rose to become the CEO of Domino’s, the pizza delivery giant: Source