Despite Upbeat Q3 Results, eBay Shares Plummet
28 Oktober 2021 - 11:49AM
TipRanks
Driven by growth in net revenues, e-commerce corporation eBay Inc.
(EBAY) exceeded expectations in the third quarter. However, the
company’s shares declined 5.3% to close at $73.51 during
Wednesday’s extended trading session, despite posting upbeat
results. eBay reported quarterly net revenues of $2.5 billion,
reflecting 11% growth year-over-year. A significant contributor to
this growth was the revenues generated from Promoted Listings,
which saw a 12% gain from the previous year to $207 million.
Moreover, the figure surpassed the consensus estimate of $2.46
billion. The company’s quarterly earnings per share (EPS) of $0.90
indicates a year-over-year growth of 9%, higher than the consensus
estimate of $0.89.
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