Why eBay Stock Got Crushed Today
Shares of eBay (NASDAQ: EBAY) got crushed on Thursday after the company reported financial results for the first quarter of 2021. Q1 results were actually quite strong, but Wall Street didn't like the company's forward guidance. As a result, the stock was down 11% as of 10:15 a.m. EDT.
For Q1, eBay's revenue grew to more than $3 billion, which was up 42% from the comparable quarter last year. And net income was even better, sporting a year-over-year increase of 45%. During the quarter, the company also generated $855 million in free cash flow (FCF), which was available for buying back shares and paying its quarterly dividend. For a company as mature as eBay, this was a stellar quarter.
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Source Fool.com
