E-commerce company eBay reported fourth-quarter results late Wednesday that beat revenue estimates and matched on earnings. EBay stock fell on the news.
The company reported adjusted earnings of $1.07 a share on revenue of $2.5 billion. EBay stock analysts expected the company to report adjusted earnings of $1.07 a share on revenue of $2.47 billion. Revenue dipped 4% from the year-ago period.
For its first quarter, EBay expects revenue at the midpoint to be $2.48 billion, beating estimates of $2.34 billion. Gross merchandise volume fell 12% to $18.2 billion.
EBay stock dropped 4.3% to 45.80, during after-hours trading on the stock market today.
"Our Q4 results demonstrate the continued resilience of our marketplace amid economic uncertainty," said Steve Priest, eBay's chief financial officer, in a written statement with the earnings release.
EBay stock is up 32% this year.
