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Investing.com- eBay reported Wednesday first-quarter results that topped expectations, but the e-commerce giant delivered revenue guidance for the current that fell just shy of expectations amid weaker consumer as challenges in the global economy persist.
eBay Inc (NASDAQ:)fell 5% in after-hours trading following the report.
eBay adjusted earnings of $1.25 per diluted share on revenue of $2.60 billion, compared with analyst estimates for EPS of $1.2 on revenue of $2.53 billion.
Gross merchandise volume, a key measure of growth, rose 1% to $18.6B amid a recovery in user growth.
Active buyers, who paid for a transaction on the eBay platforms within the previous 12-month period, fell 1% to 132M from the same period a year earlier.
“Our Q1 results highlight the resilience of our marketplace and business model amid persistent challenges in the global economy,” said Steve Priest, Chief Financial Officer at eBay.
Looking ahead to Q2, eBay guided adjusted EPS in a range of $1.10 to $1.15 on revenue between $2.49 billion and $2.54 billion. The compared with consensus estimates for EPS of $1.14 and revenue of $2.56 billion.
The company declared a cash dividend of $0.27 per share, payable Jun. 14 to shareholders of record as of May 31.
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