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Ebay Inc Up 6.75% To $47.40 After Earnings Beat

Wednesday, February 28, 2024 02:03 PM | InvestorsObserver Analysts

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Ebay Inc Up 6.75% To $47.40 After Earnings Beat

Wednesday, February 28, 2024 - Ebay Inc (EBAY) reported upside earnings and revenues today.

Ebay Inc's earnings came in at an EPS of $1.07 per share, 4.00% higher than estimates for an EPS of $1.03 per share. The firm's earnings since reporting $1.07 per share in the same period a year ago. Remember, earnings reported were on an adjusted basis, so they may not be comparable to prior reports and/or analyst estimates.

Revenues were upbeat at $2.6 billion. That is an increase of 2.07% in revenues from the year-ago report and is 2.07% higher than consensus estimates set at $2.5 billion.

The stock is up 6.75% to $47.40 after the report.

The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.

Wall Street Analysts had an average rating of Hold on the stock prior to the report.

Trading in the five days leading up to the report earned Ebay Inc a Bullish Sentiment Rank from InvestorsObserver.

Ebay Inc has performed a little above average during the past few months. Before the report, Ebay Inc received a Long-Term Technical Rank by InvestorsObserver of 57, putting it in the top half of stocks. The firm set a 52-week low on November 8, 2023 at $37.17 and set a 52-week high on July 25, 2023 at $49.48.

eBay operates one of the largest e-commerce marketplaces in the world, with $87 billion in 2021 gross merchandise volume, or GMV, rendering the firm the sixth- largest global e-commerce company. eBay generates revenue from listing fees, advertising, revenue-sharing arrangements with service providers, and managed payments, with its platform connecting more than 147 million buyers and roughly 20 million sellers across almost 190 global markets. eBay generates just north of 50% of its GMV in international markets, with a large presence in the U.K., Germany, and Australia.

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