eBay Boosts Revenue in Q3 Despite Customer Purchases Decreasing
International e-commerce and auction site eBay (NASDAQ: EBAY) reported third-quarter earnings on Wednesday, Oct. 27. The company increased revenue from the same quarter last year even though it shed buyers and existing buyers spent less.
At the outset of the pandemic in 2020, eBay saw a surge of new customers and increasing engagements from existing customers. That's because folks were looking to avoid shopping in brick-and-mortar stores. Now, as increased vaccinations lower the fear of contracting COVID-19, consumers are less hesitant about shopping in person.
So, how did eBay increase revenue despite the re-opening economy? Let's take a closer look at the earnings results and see if we can find an answer.
Source Fool.com
