eBay's GAAP earnings fell to 36 cents per share or $418 million from 45 cents per share or $509 million in the year-ago quarter.
Excluding certain items, eBay posted earnings of 45 cents a share, up 2 cents from a year earlier and topping the 44 cents analysts surveyed by Thomson Reuters had expected. It added over one million active buyers across its platforms, to a total of 165 million global active buyers.
In terms of the outlook for the fourth quarter, the company expects to see EPS in the range of $0.52 to $0.54 and revenues in the range of $2.36 billion to $2.41 billion. Revenue for the Marketplace segment ticked upward 5% on a currency-neutral basis and 2% on a reported basis driven by a 4% increase in gross merchandise volume on a currency-neutral basis or 2% on a reported basis. That compares to consensus for $2.399 billion and 54 cents. StubHub brought in $263 million in revenue, up from $225 million the prior quarter.
eBay stock had surged more than 22% in the past three months. (EBAY) on Wednesday reported third-quarter profit of $413 million.
"In Q3 we delivered good top- and bottom-line financial results, led by consistent performance across our business", eBay President and Chief Executive Officer Devin Wenig said in a statement.
Shares of eBay closed Wednesday up 2.8% at $32.52, with a consensus analyst price target of $32.41 and a 52-week trading range of $21.52 to $33.19.
The company reported adjusted earnings per share (EPS) from continuing operations of $0.45, one penny more than the median forecast for $0.44. For the year, the company is expecting an EPS between $1.85 and $1.90 and revenue between $8.95 billion and $9 billion.
- Vest deflects shot fired at officer; Man killed in standoff
- Russian Federation slams 'unprecedented' United States threats over cyber attacks
- Congress faces crisis in Odisha: MLAs want new PCC chief
- Gloria Steinem and Rashida Jones Explain What Michelle Obama Means to Them
- FC Zenit - Europa League Football - 20 October 2016
- Derrick Rose rape lawsuit trial heading to Los Angeles jury
- Kidnapping of State Correctional Officer: Details Released
- John Stones 'not scared' of trying to stop Barcelona star Lionel Messi
- Bruce Springsteen says 'toxic' Donald Trump 'knows he's going to lose'
- LSU Game Rescheduled for November 19 in Baton Rouge