Shares of eBay (NASDAQ: EBAY) were down over 7% heading into midday trading Thursday after the online e-commerce platform reported third-quarter earnings after the market closed yesterday.
eBay beat analyst expectations on the top and bottom line, with revenue of $2.61 billion, up 25% from last year and well ahead of the $2.48 billion Wall Street was anticipating. Adjusted earnings of $0.85 per share, a sizable increase from the $0.53 per share it recorded in the year-ago period, also came in well ahead of analyst predictions of $0.76 per share.
eBay also said it saw annual active buyers increase 5% to 183 million, with gross merchandise value rising 2% to $25 billion.
Source Fool.com