When eBay Inc. (NASDAQ: EBAY) released its fourth-quarter financial results after the markets closed on Tuesday, the online marketplace reported $0.71 in earnings per share (EPS) and $2.9 billion in revenue. That compares with consensus estimates of $0.68 in EPS and $2.87 billion in revenue, as well as the $0.59 per share and $2.61 billion posted in the same period of last year.
During the fourth quarter, eBay grew active buyers by 4% across its platforms, for a total of 179 million global active buyers.
The Marketplace platforms delivered $2.3 billion of revenue and $23.2 billion of gross merchandise value (GMV). Marketplace revenue growth was 7% on an as-reported basis and 6% on an FX-neutral basis, and GMV was up 1% on both an as-reported and 3% on an FX-neutral basis.
StubHub drove revenue of $314 million, up 2% on both an as-reported and FX-neutral basis, and GMV of $1.4 billion, down 2% both on as as-reported and an FX-neutral basis. Separately, Classifieds platforms delivered revenue of $263 million, up 8% on an as-reported basis and 11% on an FX-neutral basis.
Looking ahead to the first quarter, the company expects to see EPS in the range of $0.62 to $0.64 and revenue between $2.55 billion and $2.60 billion. Consensus estimates call for $0.61 in EPS and $2.66 billion in revenue.
Devin Wenig, President and CEO of eBay, commented:
We delivered record earnings for the fourth quarter and full year 2018. In 2019, our focus will be on further improvements to the eBay user experience, while pursuing significant long-term growth opportunities in advertising and payments. We are confident in the strength of our business and future growth prospects, as demonstrated by our decision to institute eBay’s first-ever dividend and increase our share repurchase program.
Shares of eBay closed Tuesday at $33.69, in a 52-week range of $26.01 to $46.99. The consensus analyst price target is $36.60. Following the announcement, the stock was up about 3% at $34.63 in the after-hour trading session.