Topic: How To Invest

Wall Street Stock Forecaster Hotline – Friday, March 1, 2024

Article Excerpt

EBAY INC., $48.05, Nasdaq symbol EBAY, is still a buy for long-term gains. The company operates e-commerce websites, in over 190 countries, where sellers pay fees to auction items or offer them at fixed prices. eBay reported better-than-expected results for the fourth quarter of 2023, thanks to higher volumes over the Christmas holidays and improving advertising revenue. Revenue in the three months ended December 31, 2023, rose 2.1%, to $2.56 billion from $2.51 billion a year earlier. That beat the consensus forecast of $2.51 billion. Gross Merchandise Volume (GMV), the total value of merchandise sold on eBay’s platform, improved 2.0% in the quarter to $18.59 billion from $18.23 billion a year earlier. That offset a 1.5% drop in the number of active buyers to 132 million. If you factor out unusual items, eBay’s overall earnings fell 3.6%, to $560 million from $581 million. The company repurchased $250 million of its shares in the quarter, which is why earnings per share were unchanged at $1.07. That also…