The eBay logo at San Jose, California, headquaters (Justin Sullivan/Getty Images)

EBay beats Q4 earnings estimates, but investors hit the sell button on lukewarm guidance

EBay shares sank after the second-largest online marketplace delivered a lukewarm first-quarter forecast.

2/26/25 5:20PM

Shares of eBay sank 8% in after-hours trading after the giant online marketplace delivered a lukewarm forecast for the first quarter. On paper, eBay’s fourth quarter looked solid: adjusted earnings per share came in at $1.25, topping Wall Street expectations of $1.20. Meanwhile, revenue grew a modest 1% to $2.58 billion, but was still in line with estimates. Gross merchandise volume — a key metric for the company — also rose 4% to $19.3 billion, surpassing analyst expectations of $19.0 billion.

But a strong past performance wasn’t enough to ease fears of what’s ahead. EBay’s revenue forecast for the current quarter came in between $2.52 billion and $2.56 billion, falling short of analysts’ $2.59 billion projection.

Investors have watched eBay’s marketplace closely as it deals with slowing GMV growth and shrinking margins. EBay has been navigating a shift in consumer spending as demand cools for collectibles and refurbished goods. Before the post-earnings drop, eBay’s stock had risen about 57% in the past year.

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SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

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Nike sinks to lowest level since 2014 after warning of “challenged” sales environment in Q4 report

Did Nike do it?

Investors had a mixed reaction after the global sports apparel company reported its fourth quarter earnings on Tuesday after the bell. Shares initially rose 5% as Nike beat out Wall Street expectations amid a hefty tariff refund bonus. However, the stock then sank to its lowest level since August 2014 in postmarket trading.

Here are the Q4 numbers:

Revenue of $11.0 billion (estimate: $10.8 billion).
Adjusted earnings per share of $0.20 (estimate: $0.12).

Ahead of this report, Nike warned that results would be flattered by a one-time tariff refund (now estimated at roughly $0.52 per share for the bottom line). That gave the company an extra cushion in snapping its streak of seven quarters of year-over-year profit declines.

Over the past year, the company had been punished by tariffs on imported goods, stagnant consumer spending, and increasing competition from other footwear brands like New Balance, Adidas, and Hoka.

Outgoing CFO Matthew Friend deemed it an “increasingly challenging operating environment, where sell-through remains challenged.”

EBay beats Q4 earnings estimates, but investors hit the sell button on lukewarm guidance

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