Payment processor PayPal Holdings Inc reported better-than-expected quarterly revenue as it added customers and processed more payments and the company said it would buy back up to $2 billion of its stock.
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EBay expects full-year earnings in the range of $1.82 to $1.87 per share, with revenue ranging from $8.5 billion to $8.8 billion.
The company forecast first-quarter adjusted profit of 43-45 cents per share and revenue of $2.05 billion-$2.10 billion. And the company’s first-quarter profit and sales forecasts are lower than the average of analysts’ estimates.
Investors had already baked in eBay’s EBAY, -0.86% less-than-stellar fourth quarter.
At EBay, marketplace revenue declined 5 percent in the fourth quarter from a year earlier. The e-commerce company reported $0.50 EPS for the quarter, hitting the consensus estimate of $0.50.
PayPal acquired more customers in the fourth quarter than any quarter in the company’s history, Chief Executive Officer Dan Schulman said on an earnings conference call. The average estimate of 29 analysts surveyed by Zacks Investment Research was for earnings of 49 cents per share. Following the completion of the sale, the senior vice president now owns 88,534 shares of the company’s stock, valued at $2,589,619.50. That’s below analyst expectations of $1.98 per share on revenue of $8.99 billion. The stock was sold at an average price of $29.25, for a total value of $585,000.00. Sales stalled on the Web marketplace as shoppers went elsewhere during the holiday season even as total e-commerce spending increased.
In other news, SVP Jae Hyun Lee sold 20,000 shares of the stock in a transaction that occurred on Monday, November 30th. The disclosure for this purchase can be found here. Following the purchase, the director now owns 5,140 shares of the company’s stock, valued at approximately $149,676.80.
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Global commerce leader eBay Inc. The Marketplaces segment operates ecommerce platform, eBay.com; localized sites, including eBay.de and eBay.co.uk; vertical shopping Websites, such as StubHub; and classifieds Websites, such as alaMaula, BilBasen, dba.dk, eBay Classifieds, eBay Kleinanzeigen, eBay Annunci, Gumtree, Kijiji, iBazar, 2dehands.be, 2ememain.be, LoQUo, Marktplaats.nl, and mobile.de, as well as provides advertising services. “Our strong results reflect PayPal’s progress in delivering on our strategy to drive the digital payments revolution”.
