eBay released its fourth-quarter results on Tuesday, surpassing Wall Street estimates despite facing challenges in the macroeconomic environment. The company's shares (NASDAQ:EBAY) rose by 5% in after-hours trading following the report.
For the quarter ending Dec. 31, the e-commerce giant reported adjusted earnings per share (EPS) of $1.07 on revenue totaling $2.6 billion. Analysts surveyed by Investing.com had projected an EPS of $1.03 on revenue of $2.51 billion.
Despite contending with a difficult macroeconomic climate, eBay reported a 2% decrease in gross merchandise volume, a significant performance metric, which amounted to $18.6 billion.
Looking ahead to the first quarter, eBay anticipates adjusted EPS in the range of $1.19 to $1.23, with revenue expected to fall between $2.50 billion and $2.54 billion. This guidance contrasts with the Wall Street forecast of adjusted EPS at $1.13 on revenue of $2.53 billion.
Additionally, eBay unveiled a new $3 billion stock buyback program and raised its quarterly dividend for Q1 by 8%, now standing at $0.27 per share.
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