By Kimberly Chin

EBay Inc. reported a decline in active buyers in the latest quarter but sales rose, beating analysts' expectations.

The online marketplace reported third-quarter earnings of $264 million, compared with $665 million a year earlier. Per-share earnings were 40 cents, down from 94 cents a year earlier.

Adjusted earnings from continuing operations were 90 cents a share. Analysts surveyed by FactSet were expecting 89 cents a share.

Net revenue was $2.5 billion, up from $2.26 billion a year earlier. Analysts were expecting $2.46 billion.

The online marketplace reported 154 million active buyers for the September quarter, a 5% decline from a year earlier. It had 19 million active sellers, flat from last year.

Gross merchandise volume fell 10% to $19.5 billion.

Expenses rose 3.8% to $1.16 billion due in part to an increase in product development expenses and a higher provision for transaction losses.

Write to Kimberly Chin at kimberly.chin@wsj.com

(END) Dow Jones Newswires

October 27, 2021 16:38 ET (20:38 GMT)

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