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eBay Beats Expectations in Q3 but Trims Outlook

By Liz Moyer

Investing.com -- eBay (NASDAQ:EBAY) reported third quarter earnings 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.

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.