Shares of eBay slumped about 9% in extended trading on Wednesday after the online marketplace posted its third-quarter earnings and gave guidance for the fourth quarter that fell short of Wall Street's expectations.
The guidance trailed the average analyst estimate for fourth-quarter revenue of $2.65 billion, according to StreetAccount.
The company also said it expects $1.17 to $1.22 in adjusted earnings per share in the fourth quarter.
The company didn't provide clarity on its forecast in the earnings release.
GMV, or the dollar value of items sold on eBay's marketplace, grew 2% year over year to $18.3 billion, eBay said, which topped analysts' projected $18.1 billion, per StreetAccount estimates.
Persons:
Steve Priest
Organizations:
eBay, LSEG, LSEG Revenue, EBay, Walmart, Big Tech
Locations:
China