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eBay Q3 revenues increase 5 percent

By Prachi Singh


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Credits: Image: Courtesy of Ebay

eBay Inc. reported third quarter revenue of 2.5 billion dollars, up 5 percent on an as-reported basis and up 5 percent on a foreign exchange (FX) neutral basis.

The company’s gross merchandise volume (GMV) was 18 billion dollars, up 2 percent on an as-reported basis and roughly flat on an FX-neutral basis.

GAAP net income for the quarter was 1.3 billion dollars or 2.46 dollars per diluted share and non-GAAP net income was 545 million dollars or 1.03 dollars per diluted share.

"We delivered another quarter of solid results, and have accelerated the pace of innovation across eBay. In the face of macroeconomic uncertainty, we continue to make meaningful progress against our ambitious vision to reinvent the future of ecommerce for enthusiasts," said Jamie Iannone, chief executive officer at eBay.

The company returned 783 million dollars to shareholders, including 651 million dollars of share repurchases and 132 million dollars paid in cash dividends. eBay's board of directors has declared a cash dividend of 0.25 cents per share for the quarter.

For the fourth quarter, the company expects revenues in the range of 2.47 to 2.53 billion dollars, FX-neutral growth between negative 1 percent to positive 2 percent, diluted GAAP EPS in the range of 70 to 75 cents and diluted non-GAAP EPS between 1 to 1.05 dollars.

For the full year, revenue is expected to range between 10.02 to 10.08 billion dollars, up between 3 to 4 percent FX-neutral, diluted GAAP EPS between 4.53 to 4.58 dollars and diluted non-GAAP EPS in the range of 4.17 to 4.22 dollars.