eBay Beats Expectations in Q3 but Trims Outlook By Investing.com
By Liz Moyer
Investing.com — eBay (NASDAQ:) reported third quarter that beat analysts’ forecasts and revenue that topped expectations.
The online auction platform reported adjusted earnings per share of $1 on revenue of $2.4 billion. Analysts anticipated EPS of 93 cents on revenue of $2.33 billion.
Shares of eBay rose 7% in after-hours trading. They are down 42% from the beginning of the year, and down 50.57% from its 52-week high of $77.00 set on Nov. 4, 2021.
Revenue was down 5% on an as-reported basis. Gross merchandise volume of $17.7 billion, was down 11% on an as-reported basis.
The company is forecasting fourth-quarter revenue in a range of $2.42 billion to $2.5 billion, and full-year revenue of $9.71 billion to $9.79 billion, trimmed slightly from earlier guidance.
For the fourth quarter, eBay is forecasting adjusted EPS of $1.03 to $1.09 a share, and for the full year it is forecasting $4.07 to $4.13 a share.