uploads///

eBay Lines Up $5.7 Billion for Share Repurchases

By

May. 21 2019, Published 9:48 a.m. ET

eBay holding $7.3 billion in cash reserve

eBay (EBAY) shareholders can still expect to reap billions of dollars more from the company’s share repurchase program. eBay finished the first quarter with $5.7 billion remaining in its existing repurchase authorization. The company repurchased $1.5 billion of shares in the first quarter to reduce its outstanding share count by 42 million shares.

eBay closed the first quarter with $7.3 billion in cash reserves, indicating that the company can fund its remaining repurchase program without pressure to resort to borrowing to complete the program.

Article continues below advertisement

No Amazon repurchase in more than six years

Besides eBay, Alibaba (BABA), JD.com (JD), and Etsy (ETSY) are some of the other e-commerce companies that have lined up billions or millions in repurchase programs for their shareholders. In September 2018, Alibaba announced that it was beginning to buy back shares from its shareholders under a $6.0 billion stock repurchase program. The company had repurchased $1.6 billion worth of shares at the end of the first quarter, meaning it still has $4.4 billion more to return to shareholders. In December last year, JD announced a $1.0 billion repurchase program that it said it would implement over a 12-month period. Etsy announced a $200 million repurchase program in November last year.

Amazon (AMZN) has not repurchased shares for more than six years despite having a $5.0 billion repurchase authorization since 2016, according to a Reuters report. Amazon’s cash reserve stood at $23.5 billion at the end of the first quarter.

Advertisement

More From Market Realist

    • CONNECT with Market Realist
    • Link to Facebook
    • Link to Twitter
    • Link to Instagram
    • Link to Email Subscribe
    Market Realist Logo
    Do Not Sell My Personal Information

    © Copyright 2021 Market Realist. Market Realist is a registered trademark. All Rights Reserved. People may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.