eBay (NASDAQ:EBAY) saw its shares decline, as the online auction platform reported fourth-quarter earnings of $1.07 per share excluding items, on revenues of $2.51 billion. Those figures topped analysts’ estimates of $1.06 per share in earnings and revenue of $2.47 billion, according to Refinitiv.
The company also generated $686 million of operating cash flow and $533 million of free cash flow from continuing operations. It also returned over $419 million to shareholders, including $300 million of share repurchases and $119 million paid in cash dividends.
Finally, EBAY Issued $1.15 billion of senior unsecured notes in November 2022.
“In 2022, we made significant progress on our multi-year strategic journey,” said CEO Jamie Iannone. “Our focus category playbook continues to drive underlying growth in our business and the investments we’ve made in core technology are enabling us to innovate on behalf of our customers more quickly. We have a talented team, a strong strategic vision and a persistent focus on operational excellence that will create long-term value for our shareholders in the years ahead.”
“Our Q4 results demonstrate the continued resilience of our marketplace amid economic uncertainty,” said CFO Steve Priest. “I’m extremely proud of our teams for delivering on their quarterly financial commitments, maintaining prudent cost discipline, and executing key deliverables in support of our strategy.”
EBAY shares dipped $3.10 , or 6.5%, to $44.75.