eBay Soars After Record Q4

eBay Inc. EBAY shares are soaring after meeting analysts expectations on both the top and bottom line in the fourth quarter of 2016.

• eBay reports Q4 EPS $0.54, inline with estimates
• Revenues $2.4B, meeting expectations
• eBay expects Q1 EPS in the $0.46-$0.48 range against consensus estimates of $0.50. Sales is forecasted in the $2.17B-$2.21B range vs a projected $2.21B estimate
• eBay is forecasting FY17 Adj. EPS of $1.98-$2.03 vs a $2.07 estimate; Full year sales guidance is estimated at $9.3B-$9.5B vs. $9.36B analyst estimate

"Q4 was a record quarter highlighted by solid performance in our eBay business. During the holiday season, eBay was one of the top consumer shopping destinations in the world and the second most visited eCommerce site in the U.S.," said CEO Devin Wenig. "In 2017, we intend to accelerate the progress that we made last year as we continue to execute our business strategy."

eBay shares are up nearly 8 percent after hours, trading recently at $32.59.