EBay Q3 earnings report 2024

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Q3 earnings report 2024

A sign is posted in front of

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headquarters in San Jose, California. 

Justin Sullivan | Getty Images

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slumped about 9% in extended trading on Wednesday after the online marketplace

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its third-quarter earnings and gave guidance for the fourth quarter that fell short of Wall Street’s expectations.

Here’s how the company did:

Earnings: $1.19 per share vs. $1.18 per share expected by LSEGRevenue: $2.58 billion vs. $2.55 billion expected by LSEG

For the current quarter,

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predicted revenue to between $2.53 billion and $2.59 billion, which would represent a 1% decline to a 1% increase year over year. The guidance trailed the average analyst estimate for fourth-quarter revenue of $2.65 billion, according to StreetAccount.

The company also said it expects $1.17 to $1.22 in adjusted earnings per share in the fourth quarter. The top end of the range is in line with consensus estimates of $1.22 per share.

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has faced heightened competition in e-commerce from rivals like

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, Walmart and Etsy, as well as low-cost upstarts Temu and Shein, which both have ties to China. To keep buyers and sellers returning to its site, the company has leaned into so-called “focus categories,” such as collectible sneakers, used luxury goods and auto parts. It has also announced artificial intelligence tools that

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for shoppers and streamline the creation of seller listings.

The company didn’t provide clarity on its forecast in the earnings release. But Steve Priest,

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’s chief financial officer, said the company has seen “solid **********” on its strategic initiatives, which drove continued ****** merchandise volume “growth amid a dynamic macro environment.”

GMV, or the dollar value of items sold on

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’s marketplace, grew 2% year over year to $18.3 billion,

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said, which topped analysts’ projected $18.1 billion, per StreetAccount estimates.

WATCH: What to watch in Big Tech earnings

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#

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#earnings #report

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