eBay expects Q1 revenues to beat analysts’ expectations
For its fourth quarter, eBay Inc. reported revenue of 2.5 billion dollars, down 4 percent on an as-reported basis and down 1 percent on FX neutral basis.
For the first quarter, the company expects revenue to range between 2.46 to 2.50 billion dollars, up 0 to 2 percent, above analysts’ expectation of 2.37 billion dollars.
Gross merchandise volume (GMV) was 18.2 billion dollars, down 12 percent reported and down 6 percent on an FX-neutral basis.
GAAP net income was 671 million dollars or 1.23 dollars per diluted share, while non-GAAP net income was 581 million dollars or 1.07 dollars per diluted share.
"In 2022, we made significant progress on our multi-year strategic journey. We have a talented team, a strong strategic vision and a persistent focus on operational excellence that will create long-term value for our shareholders in the years ahead," said Jamie Iannone, chief executive officer at eBay in a release.
For the full year, revenue was 9.8 billion dollars, down 6 percent reported and down 4 percent on an FX-neutral basis. GMV was 73.9 billion dollars, down 15 percent reported and down 11 percent on an FX-neutral basis.
GAAP net loss was 1.3 billion dollars or 2.28 loss per diluted share, while non-GAAP net income was 2.3 billion dollars or 4.11 dollars per diluted share.
eBay's board of directors has declared a cash dividend of 25 cents per share of the company's common stock.
The company expects first quarter diluted GAAP EPS in the range of 77 cents to 81 cents and non-GAAP diluted earnings between 1.05 dollars to 1.09 dollars.