Categories AlphaGraphs, Earnings, Retail
Infographic: eBay (EBAY) stock drops after Q3 earnings slightly miss estimates
E-commerce giant eBay Inc. (NASDAQ: EBAY) reported higher earnings and revenues for the third quarter of 2020. But the company’s stock declined on Wednesday evening. The company also revised up its full-year guidance.
Net income was $664 million or $0.88 per share in the September-quarter, compared to $310 million or $0.25 per share in the prior-year quarter. Adjusted earnings advanced to $0.85 per share in the latest quarter from $0.52 per share in the third quarter of 2019.
Driving the bottom-line growth, net revenues rose 25% annually to $2.61 billion, helped by an increase in gross merchandise volume. There was a 5% growth in the number of annual active buyers, for a total of 183 million global active buyers.
Read analysts/managements’ comments on eBay’s Q3 earnings
The company’s stock closed Wednesday’s regular trading lower and continued to lose during the extended session.
Looking for more insights on the earnings results? Click here to access the full transcripts of the latest earnings conference calls!
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