Friday, April 12, 2024
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Why eBay Shares Are Diving Post Q3 Earnings

eBay Inc (NASDAQ: EBAY) shares are trading lower by around 6% after it reported Q3 FY23 earnings.

Revenue rose 5% Y/Y on reported and FX basis to $2.500 billion, marginally missing the consensus of $2.502 billion. 

EBAY's first-party advertising products posted revenue of $345 million in Q3 (+39% Y/Y on an as-reported basis and +36% Y/Y on an FX-Neutral basis) led by Promoted Listings.

Total advertising offerings generated around $366 million in revenue in Q3, representing about 2.0% of GMV.

Gross Merchandise Volume of $18.0 billion, up 2% on an as-reported basis and roughly flat on an ...

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