eBay’s Q1 results
eBay (EBAY) delivered better-than-expected earnings and revenues in the first quarter of 2018 on April 23 after the market bell. eBay stock increased 1.44% to $36.67 on Tuesday and gained 31.1% on a year-to-date basis.
Like eBay, rival Twitter (TWTR) also posted upbeat first-quarter 2019 results on April 23. Afterward, the stock rose 15.6%. Snap (SNAP) also reported higher-than-expected revenues and narrower-than-expected losses in its first quarter of 2019 results on Tuesday after the market bell. Facebook (FB) and PayPal (PYPL) planned to report their first-quarter earnings on April 24 after the market bell.
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eBay posted adjusted earnings of $0.67 per share in the first quarter, above the analysts’ expectations of $0.63 per share and the company’s guided range of $0.62 to $0.64 per share. Earnings also increased by 26.4% YoY driven by top-line growth and share buybacks.
The company repurchased $1.5 billion worth of shares and paid $125 million of dividends during the quarter. The company’s remaining share repurchase authorization is $5.7 billion at the end of March 31, 2019.
For the second quarter of 2019, eBay forecasts adjusted earnings in the range of $0.61 to $0.63 per share. For the full-year 2019, the company has raised its profit forecast and now anticipates adjusted earnings in the range of $2.64 to $2.70 per share as compared to the earlier expectation of $2.62 to $2.68 per share.