Shares of EBay slid in extended trading after the company issued lackluster guidance for the fourth quarter.Sign up for NBC DFW's News Headlines newsletter.
For the current quarter, eBay predicted revenue to between $2.53 billion and $2.59 billion, which would represent a 1% decline to a 1% increase year over year. The guidance trailed the average analyst estimate for fourth-quarter revenue of $2.65 billion, according to StreetAccount. The company also said it expects $1.17 to $1.22 in adjusted earnings per share in the fourth quarter. The top end of the range is in line with consensus estimates of $1.22 per share., as well as low-cost upstarts Temu and Shein, which both have ties to China. To keep buyers and sellers returning to its site, the company has leaned into so-called"focus categories," such as collectible sneakers, used luxury goods and auto parts.
The company didn't provide clarity on its forecast in the earnings release. But Steve Priest, eBay's chief financial officer, said the company has seen"solid execution" on its strategic initiatives, which drove continued gross merchandise volume"growth amid a dynamic macro environment." GMV, or the dollar value of items sold on eBay's marketplace, grew 2% year over year to $18.3 billion, eBay said, which topped analysts' projected $18.1 billion, per StreetAccount estimates.World Series