Strong quarterly earnings for eBay

Strong quarterly earnings for eBay

People turned to online shopping in the midst of the pandemic

One of the largest American multinational e-commerce company, eBay, reported fourth-quarter results that came ahead of expectations.

The company reported an adjusted EPS of $0.86 slightly higher than $0.83 per share forecasted. The $2.7 billion in revenues was topped by the actual figures of $2.9 billion.

Also, the value of all products sold on eBay rose 21% to $26.6 billion.

For the future, eBay expects its first quarter revenue to reach a high of $2.99 billion, and an adjusted EPS of $1.08. Both top the consensus of $2.5 billion, and $0.85 earnings per share, respectively.

After the news hit the wires, eBay stock price added more than 10% reaching an all-time high of $63.98 per share. In the past twelve months, the stock went up nearly 70%.

Read how Amazon has performed in the past quarter here!

Sources: Aljazeera.com, investors.com

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