eBay Inc (EBAY) Q3 Adjusted Earnings in Line With Expectations
eBay Inc (NASDAQ:EBAY) reported on its latest quarter late Wednesday.
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For its third quarter, the online auction giant said it earned $514 million, or 48 cents per share, while non-GAAP earnings were also 48 cents per share. Analysts were calling for profit of 48 cents per share.
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Revenue was also similar to what the Wall Street consensus estimate called for as eBay raked in $2.4 billion in sales versus an outlook of $2.37 billion. The figure was a 9% improvement compared to the year-ago period.
The company added that its gross merchandise volume (GMV) amounted to $21.7 billion, most of which came from eBay’s Marketplace platforms. The company has geared a large portion of its technology and marketing efforts towards this segment, which brought in $20.5 billion of GMV and $1.9 billion of revenue.
“In Q3, we drove acceleration across all three of our platforms, delivering strong top and bottom line financial results and our fastest volume growth in over three years,” said eBay CEO Devin Wenig. “Our customers are responding to the significant product enhancements we have been making, and this is reflected in our results.”
The company also said it added 2 million active buyers across its platforms, now reaching 168 million.
For its fourth quarter, eBay predicts it will rake in $2.58 billion and $2.62 billion in revenue, while earnings are slated to be between 57 and 59 cents per share on an adjusted basis.
EBAY stock rose 1.3% during regular trading hours, but the earnings call unveiled after the bell saw shares fall 5.4%.
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