A motion is posted successful beforehand of eBay office successful San Jose, California.
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Shares of eBay slumped astir 9% successful extended trading connected Wednesday aft the online marketplace posted its third-quarter net and gave guidance for the 4th fourth that fell abbreviated of Wall Street's expectations.
Here's however the institution did:
- Earnings: $1.19 per stock vs. $1.18 per stock expected by LSEG
- Revenue: $2.58 cardinal vs. $2.55 cardinal expected by LSEG
For the existent quarter, eBay predicted gross to betwixt $2.53 cardinal and $2.59 billion, which would correspond a 1% diminution to a 1% summation twelvemonth implicit year. The guidance trailed the mean expert estimation for fourth-quarter gross of $2.65 billion, according to StreetAccount.
The institution besides said it expects $1.17 to $1.22 successful adjusted net per stock successful the 4th quarter. The apical extremity of the scope is successful enactment with statement estimates of $1.22 per share.
EBay has faced heightened contention successful e-commerce from rivals similar Amazon, Walmart and Etsy, arsenic good arsenic low-cost upstarts Temu and Shein, which some person ties to China. To support buyers and sellers returning to its site, the institution has leaned into alleged "focus categories," specified arsenic collectible sneakers, utilized luxury goods and car parts. It has besides announced artificial quality tools that provide personalized recommendations for shoppers and streamline the instauration of seller listings.
The institution didn't supply clarity connected its forecast successful the net release. But Steve Priest, eBay's main fiscal officer, said the institution has seen "solid execution" connected its strategical initiatives, which drove continued gross merchandise measurement "growth amid a dynamic macro environment."
GMV, oregon the dollar worth of items sold connected eBay's marketplace, grew 2% twelvemonth implicit twelvemonth to $18.3 billion, eBay said, which topped analysts' projected $18.1 billion, per StreetAccount estimates.
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