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

  • Credit card manipulator reveals point-hogging strategy

    Economic CTV News
    Bank tellers may have rolled their eyes when Avery Campbell started depositing grocery bags full of collectable coins into his account. But he had the last laugh over champagne and caviar while flying first-class to five-star resorts. Source
  • N.B. inks deal with company to provide marijuana for recreational users

    Economic CTV News
    ATHOLVILLE, N.B. -- New Brunswick says it has become the first province to fully secure its supply of recreational marijuana. It announced a memorandum of understanding with Zenabis to provide four million grams of cannabis and derivative products with a retail value of about $40 million. Source
  • Alibaba takes $2.9 billion stake in food retailer

    Economic CTV News
    Alibaba said on Monday it would take a major stake in one of China's top food sellers for US$2.9 billion as the e-commerce giant expands further into the retail world. China's largest e-commerce platform has invested heavily in recent years to connect its online and offline portfolio of businesses, taking stakes in several Chinese grocers, shopping malls, and department stores. Source
  • Nebraska to finally decide on Keystone XL today, the last major hurdle

    Economic CBC News
    Nebraska regulators will announce their decision on Monday on whether to approve TransCanada Corp's Keystone XL pipeline route through the state, the last big hurdle for the long-delayed project. Just days ago, TransCanada's existing Keystone system spilled 5,000 barrels in South Dakota and pipeline opponents said the spill highlighted the risks posed by the proposed XL expansion. Source
  • Nebraska approves TransCanada Corp.'s Keystone XL pipeline

    Economic CBC News
    Nebraska regulators will announce their decision on Monday on whether to approve TransCanada Corp's Keystone XL pipeline route through the state, the last big hurdle for the long-delayed project. Just days ago, TransCanada's existing Keystone system spilled 5,000 barrels in South Dakota and pipeline opponents said the spill highlighted the risks posed by the proposed XL expansion. Source
  • Nebraska to finally decide on Keystone XL Monday, the last major hurdle

    Economic CBC News
    Nebraska regulators will announce their decision on Monday on whether to approve TransCanada Corp's Keystone XL pipeline route through the state, the last big hurdle for the long-delayed project. Just days ago, TransCanada's existing Keystone system spilled 5,000 barrels in South Dakota and pipeline opponents said the spill highlighted the risks posed by the proposed XL expansion. Source
  • Aurora going ahead with CanniMed offer after failing to reach deal with board

    Economic CTV News
    TORONTO -- Aurora Cannabis Inc. says it's going ahead with plans for an all-stock takeover offer for CanniMed Therapeutics Inc. after failing to reach an agreement with the company's board. The company proposed the deal last week and gave the CanniMed board until Friday to respond. Source
  • Pattie Lovett-Reid: There should be no strings attached when gifting money to kids

    Economic CTV News
    When I'm asked, ‘What is the right way to gift money to children?’ I start out with a personal anecdote of how not to do it. You see, I’ve been guilty of attaching strings to money going to my children – something I regret doing. Source
  • Driverless trucks are coming to Canada and the impact will be profound: Don Pittis

    Economic CBC News
    At last week's rollout of Tesla's electric truck, it was the battery that got most of the attention. That and the new Tesla Roadster that CEO Elon Musk says will be the fastest commercially produced car on earth. Source
  • Tie new affordable housing money to progress, not outcomes: former watchdog

    Economic CTV News
    OTTAWA - Parliament's first budget watchdog is warning the federal government to be careful how it spends billions in new housing money over the next decade to ensure it actually makes a lasting impact. In an analysis published today, former parliamentary budget officer Kevin Page says Ottawa currently doesn't tie homelessness and housing funding to any outcomes, meaning the money flows whether the results are good or bad. Source