Shares of eBay Inc. (NASDAQ:EBAY) sold off during Wednesday’s after hours session following the release of the company’s Q4 earnings results and weak Q1 guidance.
Management saw the fourth quarter generating $475 million in operating cash flow with $372 million of free cash flow from continuing operations. The company returned $3.1 billion to shareholders with $3.0 billion utilized in share repurchases and $107 million paid out in dividends. Both annual active buyers and sellers declined, by 9% to 147 million and 8% to 17 million, respectively.
The company highlighted the completion of the eBay Korea sale to Emart for approximately $3.0 billion, retaining 19.99% remaining interest valued at $725 million. eBay also reduced ownership of Adevinta to 33% by selling 135 million shares to Permira for $$2.3 billion. Additionally, management highlighted the acquisition of “Sneaker Con’s authentication business, Sneaker Con Digital with operations in the U.S., U.K., Canada, Australia, and Germany.
