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2/13, 10:27 PM (Source: TeleTrader)
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eBay expands share buyback as it sells StubHub

Ebay Inc announced on Thursday that it will be increasing its share buyback program from $1.5 billion in 2020 to $4.5 billion after it finalized the sale of StubHub to Viagogo.

The deal was executed at a sale price of $4.05 billion and the final transaction resulted in net proceeds of $3.1 billion for eBay. Additionally, eBay revised its first quarter and full-year guidance as it now sees revenue in the first three months of 2020 at $2.36 billion, compared to the previously-expected $2.31 billion. For the full year, eBay increased its revenue guidance from $9.56 billion to $9.76 billion.

Ebay and Viagogo had announced they reached a deal on StubHub back in November.

Breaking the News / VP