Stock Monitor: CSS Industries Post Earnings Reporting
LONDON, UK / ACCESSWIRE / February 15, 2018 / Active-Investors.com has just released a free earnings report on eBay Inc. (NASDAQ: EBAY). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/'symbol=EBAY. The Company reported its fourth quarter fiscal 2017 and full fiscal year 2017 operating and financial results on January 31, 2018. The ecommerce Company's revenue and earnings were in-line with market expectations, while it also provided guidance for the upcoming quarter and fiscal year. Register today and get access to over 1000 Free Research Reports by joining our site below:
Active-Investors.com is currently working on the research report for CSS Industries, Inc. (NYSE: CSS), which also belongs to the Services sector as the Company eBay. Do not miss out and become a member today for free to access this upcoming report at:
Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, eBay most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
Earnings Highlights and Summary
For the quarter ended December 31, 2017, eBay delivered revenues of $2.61 billion compared to $2.41 billion in Q4 2016, increasing 9% on an as-reported basis; primarily driven by gross merchandise volume (GMV) of $24.43 billion compared to $21.68 billion in Q4 2016, up 10% on an as-reported basis. The Company's revenue numbers were in-line with market expectations of $2.61 billion.
For the full year FY17, eBay delivered revenues of $9.6 billion, growing 7% on an as-reported basis, primarily driven by GMV of $88.4 billion, up 6% on a y-o-y basis.
During Q4 2017, eBay's GAAP operating margin decreased to 25.4% compared to 26.6% for Q4 2016. The Company's non-GAAP operating margin decreased to 30.9% in the reported quarter compared to 31.9% for the year earlier same quarter.
During Q4 2017, eBay delivered a GAAP net loss from continuing operations of $2.60 billion, or $2.51 loss per diluted share, compared to a net income of $5.94 billion, or $5.30 per diluted share, in Q4 2016. The Company's reported quarter performance was primarily attributed to a $3.1 billion tax charge attributable to the enactment of the Tax Cuts and Jobs Act 2017 (TCJA). eBay's non-GAAP net income from continuing operations was $618 million, or $0.59 per diluted share, for Q4 2017 versus $601 million, or $0.54 per diluted share, in Q4 2016. The Company's earnings met Wall Street's estimates of $0.59 per share.
For FY17, eBay reported a GAAP net loss of $1.01 billion, or $0.95 loss per diluted share, compared to a net income of $7.29 billion, or $6.37 per diluted share, in FY16. On a non-GAAP basis, eBay reported a net income of $2.163 billion, or $2.00 per diluted share, in FY17 compared to $2.156 billion, or $1.88 per diluted share, in FY16.
During Q4 2017, eBay's active buyers grew by 5% across its platforms, for a total of 170 million global active buyers. The Company's Marketplace platforms delivered $23.0 billion of GMV and $2.1 billion of revenue in the reported quarter. Marketplace GMV was up 9% on an as-reported basis, driven by a strong holiday performance in the US and continued expansion of new user experiences, which led to a revenue growth of 8% on a y-o-y basis.
For Q4 2017, eBay's StubHub drove GMV of $1.4 billion, up 16% on an as-reported basis; and revenues of $307 million, up 10% versus the year ago comparable period, driven by a strong concerts and sports landscape. The Company's Classifieds platforms delivered another quarter of double-digit growth with revenues of $244 million, up 21% on an as-reported basis, and driven primarily by strength in Germany.
During Q4 2017, eBay generated an operating cash flow from continuing operations of $988 million and a free cash flow from continuing operations of $796 million. The Company delivered strong operating and free cash flow on a continuing operations basis, generating $3.1 billion and $2.5 billion, respectively, during FY17.
eBay repurchased approximately $922 million of its common stock, or 25 million shares, in Q4 2017. The Company's total repurchase authorization remaining was $1.7 billion as of December 31, 2017. In January 2018, eBay's Board of Directors authorized an additional $6.0 billion stock repurchase program, with no expiration from the date of authorization.
As of December 31, 2017, eBay's cash and cash equivalents and non-equity investments portfolio totaled $11.3 billion.
For the first quarter of the fiscal year 2018, eBay is forecasting net revenues to be between $2.57 billion and $2.61 billion, with GAAP earnings per diluted share from continuing operations to be in the range of $0.37 - $0.41, and non-GAAP earnings per diluted share from continuing operations to be in the band of $0.52 - $0.54.
For FY18, eBay is projecting net revenues to be between $10.9 billion and $11.1 billion, with GAAP earnings per diluted share from continuing operations to be in the range of $1.65 - $1.75, and non-GAAP earnings per diluted share from continuing operations in the band of $2.25 - $2.30.
Stock Performance Snapshot
February 14, 2018 - At Wednesday's closing bell, eBay's stock was slightly up 0.69%, ending the trading session at $42.44.
Volume traded for the day: 9.88 million shares.
Stock performance in the last month - up 12.63%; previous three-month period - up 18.38%; past twelve-month period - up 26.20%; and year-to-date - up 12.45%
After yesterday's close, eBay's market cap was at $42.29 billion.
The stock is part of the Services sector, categorized under the Specialty Retail, Other industry. This sector was up 1.7% at the end of the session.
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