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EBay Earnings: EBAY Stock Falls 2% In Spite of Q3 Earnings Beat

EBay (NASDAQ:EBAY) earnings for the online marketplace’s third quarter of 2019 have EBAY stock down in after-hours trading Wednesday. This comes despite its non-GAAP earnings per share of 67 cents on revenue of $2.65 billion. For comparison, Wall Street was expecting non-GAAP EPS of 64 cents on revenue of $2.64 billion for the quarter.

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Here’s what else to know about the most recent eBay earnings report.

  • Non-GAAP per-share earnings were up 19% from 56 cents in the same period of the year prior.
  • The eBay earnings report has revenue matching what was reported in Q3 2018.
  • Operating income comes in at $310 million.
  • That’s a 57% drop from operating income of $720 million from the third quarter of 2018.
  • Net income of $563 million is 2% better than the net income of $554 million reported during the same time last year.
  • EBAY also saw its active buyers increase by 4% during the third quarter of the year to 183 million across the world.

Scott Schenkel, the interim CEO of eBay, says this of the current EBAY stock earnings.

“We performed in line with expectations in Q3 while improving the Marketplace experience, creating better customer outcomes, and maintaining momentum in advertising and payments.”

The third-quarter eBay earnings report also includes an outlook increase for 2019. The company is now expecting non-GAAP to range from $2.75 to $2.78. However, it still expects revenue to come in between $10.75 billion and $10.80 billion. That’s mixed news for EBAY stock as Wall Street is estimating non-GAAP EPS of $2.75 on revenue of $10.82 billion for the year.

EBAY stock was up slightly when the markets closed on Wednesday. The stock is currently down 2.55% in after-hours trading today.

As of this writing, William White did not hold a position in any of the aforementioned securities.

Article printed from InvestorPlace Media, https://investorplace.com/2019/10/ebay-earnings-hit-ebay-stock/.

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