eBay third quarter 2024 earnings report | Wilnesh News

shares eBay After the online market opened, intraday trading fell by about 9% on Wednesday. release Its third-quarter earnings and guidance for the fourth quarter fell short of Wall Street expectations.

Here’s what the company does:

• income: $1.19 per share vs. LSEG forecast of $1.18 per share
• income: US$2.58 billion, compared with US$2.55 billion expected by LSEG

eBay expects revenue for this quarter to be between US$2.53 billion and US$2.59 billion, a 1% to 1% annual decrease. The guidance was below analysts’ average estimate of $2.65 billion in fourth-quarter revenue, according to StreetAccount.

The company also said it expected fourth-quarter adjusted earnings per share of $1.17 to $1.22. The upper end of the range was in line with the consensus estimate of $1.22 per share.

eBay faces stiff competition from rivals in e-commerce Amazon, Walmart and etsiand low-cost upstarts Temu and Shein with ties to China. To keep buyers and sellers returning to its site, the company has focused on so-called “focus categories” such as collectible sneakers, used luxury goods and auto parts. It also announced artificial intelligence tools Provide personalized advice Assist shoppers and simplify seller listing creation.

The company did not explicitly state its forecast in its earnings report. But eBay Chief Financial Officer Steve Priest said the company’s strategic initiatives have been “solidly executed,” which has driven “continued growth in a dynamic macro environment.”

eBay said GMV, the dollar value of items sold on eBay’s marketplace, rose 2% annually to $18.3 billion, higher than StreetAccount analysts’ forecast of $18.1 billion.

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