EBay stock rose during after-hours trading Tuesday as the e-commerce company reported third-quarter earnings after the market close that topped estimates.
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EBay (EBAY) reported adjusted earnings of 56 cents per share, beating analyst estimates for 54 cents. The company said revenue was $2.65 billion, matching forecasts of $2.65 billion and up 6% from the year-ago period.
EBay stock jumped 5.3%, near 28.90, during after-hours trading on the stock market today. EBay stock is down 29% this year.
Gross merchandise volume rose 5% to $22.7 billion.
For the fourth quarter, eBay expects net revenue in the range of $2.85 billion to $2.89 billion. That's below estimates of $2.9 billion. It expects adjusted earnings in the range of 67 cents to 69 cents, vs. estimates of 67 cents.
EBay grew global active buyers by 4% across its platforms, for a total of 177 million. EBay unit StubHub reported revenue of $291 million, up 7%.
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The post EBay Stock Up As Quarterly Earnings Beat, Revenue Meets Estimates appeared first on Investor's Business Daily.
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