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.
https://www.tipranks.com/news/despite-upbeat-q3-results-ebay-shares-plummet?utm_source=advfn.com&utm_medium=referral
eBay (NASDAQ:EBAY)
Historical Stock Chart
From May 2022 to Jun 2022 Click Here for more eBay Charts.
eBay (NASDAQ:EBAY)
Historical Stock Chart
From Jun 2021 to Jun 2022 Click Here for more eBay Charts.