Investors weren't thrilled with the latest earnings update from eBay (NASDAQ: EBAY). Sure, the online marketplace is benefiting from soaring e-commerce demand for everything ranging from collectible sneakers to automobiles. With that bigger picture in mind, let's look at some takeaways from this past week's first-quarter 2021 earnings report, and what they could mean for shareholders of this highly profitable business.
Etsy (ETSY) reported first-quarter financial results after the market close Wednesday. Despite beating on both top and bottom lines, the stock was under pressure in after hours trading. The company said it will not be issuing guidance for the full year.
EBay Inc is open to the possibility of accepting crytpocurrency as a form of payment in the future and is looking at ways to get non-fungible tokens (NFTs) on its platform, the company said on Monday. A growing number of companies have begun to accept virtual currencies as a form of payment, taking an asset class that had been shunned by major financial institutions a few years ago, a step closer to becoming mainstream. Tesla Inc is already accepting bitcoin as payment for its electric cars, while payments giant PayPal last year started allowing customers to buy, sell and hold cyrptocurrencies using its online wallets.