eBay Inc. (EBAY) Stock Tumbling in Pre-Market, Here’s Why – Invest Chronicle
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eBay Inc. (EBAY) Stock Tumbling in Pre-Market, Here’s Why

eBay Inc. (EBAY), a company that operates platforms for connecting buyers and sellers across the globe, has slid 10.22% in the pre-market trading session. Consequently, the stock is trading at $49.01 at the time of the writing. During Wednesday’s mid-day session, the stock declined by 1.02% and closed the day at $1.02. The stock slumped after the announcement of financial results, which depicted a bleaker outlook for the company.

Q4 and FY 2021 Results

On Wednesday, EBAY released the results for Q4 2021 and FY 2021. The total revenue generated during the three months of Q4 2021 was $2.6 billion, an increase of 5% on a year-over-year basis. The GAAP net loss for the continued operations was $893 million (or $1.47 per diluted share), while the Non-GAAP net income for the continued operations was $647 million (or $1.05 per diluted share) for Q4 2021. The total revenue generated during FY 2021 was $10.4 billion, an increase of 17% on a year-over-year basis. The GAAP net income from continued operations was $252 million (or $0.38 per diluted share), while the non-GAAP net income from continued operations was $2.7 billion (or $4.02 per diluted share) during FY 2021.

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Outlook for Q1 and FY 2022

Alongside, EBAY also released the outlook for Q1 2022 and FY 2022. The expected revenue for Q1 2022 lies in a range of $2.43 to $2.48 billion, while diluted non-GAAP EPS is expected to remain between $1.01 and $1.05. During the full year of 2022, the revenue is expected to remain in the range of $10.3 to $10.5 billion. The diluted non-GAAP EPS for FY 2022 is expected to remain between $4.20 and $4.40.

Comments from EBAY CEO

Jamie Iannone, CEO of EBAY, commented that 2021 has proven to be a strong year for the company. The company has increased customer satisfaction via investing in its strategy to drive sustainable and long-lasting growth. The company remains well-positioned for future growth as it is focused on accelerating to implement its strategic goals.

What’s Next for EBAY Stock?

Looking towards what’s coming ahead, the analysts are of the view that EBAY stock holds several negative technical indicators at this point, and hence, is being evaluated negatively. Investors should keep that in mind while investing in EBAY stock.

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