eBay's revenue down 6% to $2.5B in Q1

Wednesday, 04. May 2022 22:10

eBay Inc. announced on Wednesday its revenue in the first quarter of fiscal 2022 observed an annual decrease of 6% to hit $2.5 billion.

The company posted a net loss of $1.3 billion, which worsens the income of $568 million published in the same quarter of 2021. Besides, the company revealed a diluted loss per share of $2.28, in contrast to the earnings per share (EPS) of $0.82 posted the previous year.

"Despite the current macro headwinds, we remain confident in the long-term strategy we laid out during our Investor Day in March. We are building an eBay for the future with an eye toward delivering long-term, sustainable growth. Our enthusiast buyers continue to shop and engage on eBay regularly, and our results to date demonstrate our focus category playbook is working," said Jamie Iannone, Chief Executive Officer of eBay.

Following the report's release, eBay's shares sank by 5.57% in after-hours trading.

Related Links: eBay Inc.
Author:
Baha Breaking News (BBN) / JG