What happened
Shares of eBay (EBAY +1.49%) rallied today after the company reported its fourth-quarter and full-year 2020 results. One of the highlights of the quarter was adjusted diluted EPS of $0.86, which beat Wall Street's consensus of $0.83.
eBay's stock was up by as much as 11.7% this morning and had gained 6.1% as of 10:26 a.m. EST.
So what
In addition to the company outpacing analysts' consensus earnings estimate, eBay's fourth-quarter revenue of $2.9 billion was also ahead of Wall Street's expectation of $2.7 billion.
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CEO Jamie Iannone said in the accompanying press release, "We finished the year with strong financial results, but what inspires me most is the support we've been able to extend to small businesses -- providing them with tools, resources and access to millions of buyers globally."
Other highlights from the report include total advertising revenue reaching a new milestone of $1 billion for the full year, and annual global active buyers increasing 7% to 185 million.
Now what
Management anticipates more growth. The company's revenue outlook for the first quarter is in the range of $2.94 billion to $2.99 billion, which is ahead of analysts' estimates of $2.5 billion. And eBay believes adjusted EPS will be between $1.03 and $1.08, beating Wall Street's expectation of $0.85.
