EBay Shares Slide As Q4 Revenue Guidance Misses Expectations Despite Earnings Beat

EBay Inc. (NASDAQ:EBAY) shares are trading lower Thursday. The e-commerce company reported third-quarter results and issued fourth-quarter and fiscal year 2024 revenue guidance below estimates.

Revenue growth of 3% year over year on an as-reported basis and an FX-Neutral basis to $2.58 billion, beating the consensus of $2.54 billion.

Gross Merchandise Volume reached $18.3 billion, marking a 2% increase on an as-reported and 1% on FX-neutral basis.

Adjusted operating margin stood at 27.2% versus 26.4% a year ago. Adjusted EPS of $1.19 beat the consensus of $1.18.

The company generated $755 million in operating cash flow and $646 million in free cash flow in the quarter.

As of Sept. 30, the company's cash, cash equivalents, and non-equity investments totaled $5.8 billion.

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