Shares of eBay Inc. EBAY misplaced about 9.3% on Oct 24, reflecting the issuance of the below-conse
Shares of eBay Inc. EBAY misplaced about 9.3% on Oct 24, reflecting the issuance of the below-consensus, fourth-quarter revenue guidance as a result of strategic assessment of its portfolio amid powerful competitors from the likes of Amazon AMZN and Walmart WMT. In any other case, the corporate beat on each strains on Oct 23 after hours.
eBay reported third-quarter 2019 non-GAAP earnings of 67 cents, beating the Zacks Consensus Estimate by 2 cents. The reported determine additionally improved 19.6% yr over yr. Web revenues of $2.65 billion additionally surpassed the Zacks Consensus Estimate of $2.64 billion. The highest line was flat on a year-over-year foundation (up 2% on an FX-neutral foundation).
The corporate witnessed sturdy efficiency by its Classifieds platform through the reported quarter. Additional, eBay skilled sturdy momentum throughout its managed funds choices, which processed over $500 million price of funds through the third quarter. Nevertheless, StubHub quantity did not exhibit year-over-year progress, which affected eBay’s gross merchandise quantity (GMV).
Steering
For the fourth quarter…