Shares of eBay Inc EBAY are trading higher in the after-hours session Wednesday after the company reported first-quarter financial results, here’s what investors need to know.
By The Numbers: eBay reported first-quarter earnings of $1.11 per share, which came ahead of the $1.07 consensus estimate, on revenues of $2.51 billion, which came ahead of the $2.47 billion consensus estimate.
The online resale platform ended the quarter with $5 billion in cash and cash equivalents as of March 31, 2023.
Here's what the analysts think.
“This is a solid start to the year as we’ve exceeded expectations on our key financial and operating commitments while making significant progress against our long-term objectives," eBay CEO Jamie Iannone said in a statement. "We saw strength in our focus categories, which once again outpaced the rest of the marketplace. And the combination of eBay’s vast data and AI expertise are accelerating innovation on the platform.”
The company said it has $841 million of operating cash flow and $709 million of free cash flow from continuing operations.
eBay Price Action: The stock has a 52-week high of $54.49 and a 52-week low of $35.92. Shares are trading 5.15% higher to $45.60 during the after-hours session, according to data from Benzinga Pro.
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