5 Companies in Focus After Releasing Their Earnings Reports

3. eBay Inc. (NASDAQ:EBAY)

Number of Hedge Fund Holders: 53

Shares of eBay Inc. (NASDAQ:EBAY) fell to a nearly two-month low in the pre-market trading session on Thursday, May 5, 2022, after its second-quarter outlook fell short of estimates.

eBay Inc. (NASDAQ:EBAY) expects adjusted earnings in the range of 87 – 91 cents per share and revenue between $2.35 – $2.40 billion for the current quarter. This compares to analysts’ average estimate of $1.01 per share for earnings and $2.54 billion for revenue.

The weak outlook also overshadowed the e-commerce company’s better-than-expected Q1 results. eBay Inc. (NASDAQ:EBAY) reported earnings of $1.05 per share, above expectations of $1.03 per share. The quarterly revenue of $2.48 billion also came in above the consensus of $2.46 billion.

Speaking on the results, CEO Jamie Iannone said:

“Despite the current macro headwinds, we remain confident in the long-term strategy we laid out during our Investor Day in March. We are building an eBay for the future with an eye toward delivering long-term, sustainable growth.”