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For the fourth quarter of 2021, eBay reported revenue of $2.6 billion and a revenue of $10.4 billion for the full year.
eBay Inc (NASDAQ: EBAY) stock closed Wednesday, February 23, trading at $54.59, and recorded a change of -1.02 percent during the day. The drop was exaggerated during the after-hours with a decline of approximately 7.77 percent as of Feb 23, 7:59 p.m EST. The drop came despite eBay reporting better than expected Q4 and 2021 earnings results.
However, the stock market and also the crypto market experienced a sharp sell-off after the Russia-Ukraine crisis worsened. Moreover, the United States and the European Union have stipulated severe sanctions on Moscow. Definitely, the people on the ground are the ones to feel the heat of war.
eBay Q4 and 2021 Financial Highlights
For the fourth quarter of 2021, eBay reported revenue of $2.6 billion and a revenue of $10.4 billion for the full year. The online commerce giant had a bountiful year in 2022 after Covid related disruptions caused more online shoppers.
“Rounding out a very strong year, I’m proud of our team for delivering yet another solid quarter. By investing in our strategy to drive sustainable growth, we increased customer satisfaction, improved the seller and buyer experience, and returned value to our shareholders,” said Jamie Iannone, Chief Executive Officer of eBay. “During the quarter, we completed our multi-year payments transition and generated growth in both our advertising business and focus categories. As we continue to accelerate our strategy, we are well-positioned for future growth.”
Notably, the full-year GAAP net income from continuing operations was $252 million, approximately $0.38 per diluted share. Whereas for the Q4, GAAP net loss from continuing operations was $893 million, or $1.47 per diluted share.
Stock Market and Business Highlights
The company’s stock market has been on the decline for the past year. According to market data provided by MarketWatch, the EBAY stock market is down approximately 4.19 percent, 17.91 percent, and 24.87 percent in the past year, YTD, and three months respectively through Wednesday.
Nevertheless, the company has undertaken measures to avert the situation.
During the past year, the company completed the sale of 80.01% of eBay Korea to Emart for approximately $3.0 billion. However, the company retained 19.99% interest.
Additionally, the company also completed the sale of approximately 135 million shares of its Adevinta stock to Permira for over $2.3 billion, reducing its stake to 33%.
As for acquisitions, the company acquired Sneaker Con Digital, with operations in the US, UK, Canada, Australia, and Germany.