eBay's Q3 revenue grew 11%, even as sales transactions fell
Finance
eBay published slightly better-than-expected third-quarter financial results on Wednesday. The online marketplace saw its revenue grow 11% year-over-year, even though sales transactions declined 10%. Still, shares fell in after-hours trading after the online marketplace gave a light Q4 revenues outlook.
Non-GAAP earnings per diluted share came to 90 cents on revenue of $2.5 billion.
Analysts were expecting earnings of 89 cents per share on revenue of $2.46 billion.
"Our team delivered another strong quarter, once again meeting or surpassing our expectations for all key business metrics, making further progress on our multi-year strategy," CEO Jamie Iannone said in a statement. "Our Q3 results, driven by the near completion of our managed payments migration, expansion of our advertising portfolio, and volume growth in our focus categories, demonstrate that our strategic playbook continues to work. I'm proud that we've been able to increase customer satisfaction, build trust, and drive steady innovation, all while continuing to set and make progress toward our ambitious goals tied to climate action."
Gross Merchandise Volume (GMV) -- sales transactions on the eBay platform -- came to $19.5 billion in Q3, down 10% on an as-reported basis.
Additionally, annual active buyers declined by 5%, for a total of 154 million global active buyers. Annual active sellers were flat at 19 million global active sellers.
In terms of guidance, eBay said it expects revenue between $2.57 billion and $2.62 billion and adjusted profit between 97 cents and $1.01 per share for the current quarter. Analysts are looking for Q4 revenue of $2.65 billion and EPS of $1.