EBay inventory sinks after the corporate offers disappointing steering

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eBay headquarters in San Jose, California, U.S., on Monday, Aug. 9, 2021.

David Paul Morris | Bloomberg | Getty Pictures

Shares of eBay slid as a lot as 11% in prolonged buying and selling Wednesday after the net market posted its fourth-quarter earnings and gave guidance for the primary quarter that fell wanting Wall Avenue’s expectations.

Here is how the corporate did versus Refinitiv consensus expectations for the quarter:

  • EPS: $1.05 per share ex-items, versus 99 cents anticipated
  • Income: $2.61 billion, versus $2.61 billion anticipated.

EBay predicted first-quarter income would are available in between $2.43 billion and $2.48 billion, representing a decline of seven% to five% 12 months over 12 months, whereas analysts had on common anticipated income of $2.61 billion, in accordance with FactSet.

The corporate stated it expects $1.01 to $1.05 in adjusted earnings per share within the first quarter, which was beneath consensus estimates of $1.08 per share, in accordance with FactSet.

The disappointing steering overshadowed eBay’s better-than-expected earnings for the fourth quarter. The corporate posted earnings per share of $1.05, adjusted. Analysts polled by Refinitiv had anticipated 99 cents per share.

Income was $2.61 billion, in keeping with Wall Avenue’s estimates.

Annual energetic consumers declined 9% throughout the quarter to 147 million, properly wanting the 156 million energetic consumers forecast by analysts, in accordance with FactSet. Annual energetic sellers additionally slid 8% to 17 million.

WATCH: Because of scarcity, people have been turning to eBay, says CEO Jamie Iannone

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