April 11, 2021

Denoch Emexicana

For technology buffs

Ebay shares advance 10% as fourth-quarter results surpass expectations and dividend moves higher

1 min read


a person sitting in a box: An eBay delivery parcel is prepared for shipping at an eBay seller warehouse Ki Price/Getty


© Ki Price/Getty
An eBay delivery parcel is prepared for shipping at an eBay seller warehouse Ki Price/Getty

Ebay shares soared by 10% ahead of Thursday’s opening bell, supported by fourth-quarter results that outstripped Wall Street’s expectations and a dividend increase by the online auction platform.

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The 10% surge in shares pushed them to trade above $63 each. So far in 2021, the stock has jumped by nearly 16% and has bulked up by 56% over the past 12 months.

The company late Wednesday posted adjusted earnings of $0.86 per share, higher than the $0.82 per share consensus estimate, according to Yahoo Finance. A year earlier, adjusted earnings were $0.66 per share.

Revenue of $2.87 billion for the quarter ended Dec. 31 was ahead of the $2.7 billion in sales targeted by analysts.

“Refurbished gifts emerged as a top trend for eBay’s holiday shoppers,” the company said, touting its newly launched Certified Refurbished warranty service as “selling out of many brands’ product offerings.”

Meanwhile, the company’s board authorized a 12.5% dividend increase to $0.18 per share and an expansion of its share repurchase program by $4 billion. The previous dividend was $0.16 per share.

The upcoming dividend is payable on March 19 to shareholders of record as of March 1.

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