eBay Earnings, Revenue Beat in Q1
2022.05.04 23:37
eBay Earnings, Revenue Beat in Q1
Investing.com – eBay (NASDAQ:EBAY) reported on Wednesday first quarter earnings that beat analysts’ forecasts and revenue that topped expectations.
eBay announced earnings per share of $1.05 on revenue of $2.48 billion. Analysts polled by Investing.com anticipated EPS of $1.03 on revenue of $2.46 billion.
However, revenue declined 6% year over year.
eBay shares lost 6.62% in after-hours trading following the report.
“Our team has delivered another strong quarter, at the high end of our expectations,” said Jamie Iannone, CEO of eBay.
“Despite the current macro headwinds, we remain confident in the long-term strategy we laid out during our Investor Day in March. We are building an eBay for the future with an eye toward delivering long-term, sustainable growth. Our enthusiast buyers continue to shop and engage on eBay regularly, and our results to date demonstrate our focus category playbook is working,” he added.
The company expects second-quarter revenue to be between $2.35 billion to $2.4 billion. Adjusted earnings are forecast to be in a range of 87 cents to 91 cents per share.
Full-year 2022 revenue is forecast to be between $9.6 billion and $9.9 billion, with adjusted earnings per share for the year between $3.90 to $4.10.
