eBay Inc (NASDAQ: EBAY) rose after posting in-line quarterly figures and issued a strong forecast for the full year. eBay also announced a deal with Dutch payments company Adyen.
A news release issued Wednesday showed that the San Jose-based online retailer delivered revenue for the quarter ended December 31, 2017 of $2.6 billion, increasing 9% on an as-reported basis and 7% on a foreign exchange (FX) neutral basis, primarily driven by gross merchandise volume (GMV) of $24.4 billion, up 10% on an as-reported basis and 7% on an FX-Neutral basis.
It was during the quarter that eBay delivered GAAP net loss from continuing operations of $2.6 billion, or $(2.51) per diluted share primarily driven by a $3.1 billion tax charge attributable to the enactment of the U.S. Tax Cuts and Jobs Act.
Non-GAAP net income from continuing operations was $618 million, or $0.59 per diluted share. The company generated $988 million of operating cash flow and $796 million of free cash flow from continuing operations while also repurchasing $922 million of its common stock in the quarter.
CEO Devin Wenig said "Q4 was a record quarter for eBay, representing the fifth quarter in a row of volume acceleration in our U.S. marketplace.
"We have made great progress transforming eBay while delivering meaningful growth and we expect further acceleration in 2018 as we continue to execute our strategy."
For the full year 2017, eBay Inc. delivered revenue of $9.6 billion, growing 7%. Income from continuing operations showed a loss of just over $1 billion, compared to a gain of $7.2 billion in the prior-year.
Shares galloped $6.15, or 15.2%, to $46.73 Thursday.
