5 Companies That Topped Profit Expectations

4. eBay Inc. (NASDAQ:EBAY)

Number of Hedge Fund Holders: 53

eBay Inc. (NASDAQ:EBAY) closed higher on Thursday, February 24, 2022, after announcing better-than-expected financial results for the fourth quarter. The California-based e-commerce company earned $1.05 per share on an adjusted basis, topping expectations of 99 cents per share.

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Revenue for the quarter rose 5 percent on a year-over-year basis to $2.6 billion and matched the consensus forecast. Among other updates, eBay Inc. (NASDAQ:EBAY) reported that annual active buyers in the quarter fell 9 percent to 147 million, while annual active sellers decreased 8 percent to 17 million.

Looking forward, eBay Inc. (NASDAQ:EBAY) guided for adjusted earnings in the range of $1.01 – $1.05 per share and revenue between $2.43 – $2.48 billion for the first quarter. The outlook missed the consensus for $1.08 per share for earnings and $2.61 billion for revenue.

Commenting on the results, CEO Jamie Iannone said in a statement:

“During the quarter, we completed our multi-year payments transition, and generated growth in both our advertising business and focus categories. As we continue to accelerate our strategy, we are well positioned for future growth.”