eBay (NASDAQ:EBAY) shares rose nearly 8% intra-day today after the company announced its earnings guidance and Q4 results, exceeding expectations amid a difficult economic climate. The company achieved an adjusted earnings per share (EPS) of $1.07 and generated $2.6 billion in revenue for the quarter, surpassing the forecasts of $1.03 EPS and $2.51 billion in revenue.
Despite a 2% decline in gross merchandise volume to $18.6 billion, eBay highlighted its adept navigation through challenging macroeconomic conditions. For the upcoming first quarter, eBay projects its adjusted EPS to be between $1.19 and $1.23, with revenues expected to range from $2.50 billion to $2.54 billion, compared to the anticipated Wall Street figures of $1.13 EPS and $2.53 billion in revenue.
Additionally, eBay disclosed a new $3 billion stock repurchase initiative and declared an 8% increase in its quarterly dividend to $0.27 per share for Q1.