NEW YORK (TheStreet) -- eBay (EBAY) - Get Report shares are tanking 8.33% to $24.22 in after-hours trading on Wednesday following the e-commerce company's fourth quarter fiscal 2015 financial results and its lower-than-expected current quarter earnings outlook.
After the markets closed today, the company reported earnings of 50 cents a share on revenue of $2.32 billion. Both of these figures were in line with what Wall Street was looking for.
A year ago, the company earned 55 cents a share on revenue of $2.32 billion.
What concerned investors was that eBay did not benefit from the most recent holiday shopping season, since revenue was flat year-over-year.
Regarding its first quarter of fiscal 2016, the company made some bearish remarks, saying that it expects earnings to be between 43 cents a share to 45 cents a share, and revenue to be between the range of $2.05 billion to $2.1 billion. These are below consensus estimates for 48 cents a share on $2.16 billion in revenue, according to Barron's.com.
Overall, eBay's latest financial results were dampened by the strong dollar.
The company also noted that it repurchased around $550 million of its common stock of 19.9 million shares during the fourth quarter.