EBay surpassed analysts estimates in its third quarter as the company celebrated its 30th anniversary and moved to boost its consumer-to-consumer selling capabilities.
Net income from continuing operations was $597 million, or $1.28 per diluted share, versus $636 million, or $1.29 per diluted share, in the year-previous quarter. Adjusted for one-time events, net income was $636 million, or $1.36 per diluted share, versus $588 million, or $1.19 per diluted share, in the year-before period, the company reported.
An analyst consensus estimate published by Zacks Investment Research had adjusted diluted earnings per share at $1.33 and revenues at $2.74 billion.
Net revenue was $2.82 billion versus $2.58 billion in the year-prior quarter, eBay noted. Income from operations was $576 million versus $595 million in the year-earlier period, while adjusted operating income was $764 million versus $700 million.
Gross merchandise volume was $20.1 billion, the company maintained, up 10% on an as-reported basis and 8% on an foreign exchange rate neutral basis
Among the quarter’s highlights, eBay celebrated its 30th anniversary by launching an immersive ’95 Shop experience and ringing the Nasdaq opening bell in New York City. In October, the company closed on its acquisition of Tise, a consumer-to-consumer social marketplace purchased to strengthen eBay’s C2C expertise and its connection with Gen Z and Millennial shoppers.
For the fiscal year, eBay guidance is for revenue of $10.97 billion to $11.03 billion and adjusted diluted share of $5.42 to $5.47. The company did not provide full-year guidance earlier in the year.
“Q3 was another strong quarter for eBay, reflecting continued momentum across our marketplace and disciplined execution of our strategy,” said Jamie Iannone, eBay CEO. “We’re transforming the eBay experience through AI built on 30 years of unique insights while enhancing trusted programs in shipping, live commerce and circular fashion. These innovations are deepening engagement with enthusiasts and positioning eBay for continued success as we reinvent the future of ecommerce.”
