E-commerce platform eBay Inc. (NASDAQ: EBAY) on Wednesday reported higher earnings and revenues for the fourth quarter of 2021. The bottom line came in above the market’s prediction, while revenues matched estimates.
Net income from continuing operations, excluding one-off items, increased to $1.05 per share in the final three months of fiscal 2021 from $0.85 per share in the same period of last year and beat the consensus estimates. On an unadjusted basis, it was a net loss from continuing operations of $893 million or $1.47 per share, compared to a profit of $772 million or $1.11 per share in the fourth quarter of 2020.
At $2.61 billion, revenues were up 5% from the year-ago quarter. The latest number matched market watchers’ projection. There was a 9% decrease in the number of annual active buyers.
eBay’s stock closed Wednesday’s regular trading lower and lost further during the extended session soon after the announcement.
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