eBay Stock Falls After Q2 Earnings - Here's Why
Portfolio Pulse from Ryan Gustafson
eBay Inc. reported Q2 earnings of $1.03 per share, beating the analyst consensus estimate of $0.99. The company also reported quarterly sales of $2.54 billion, surpassing the analyst consensus estimate of $2.51 billion. However, the Gross Merchandise Volume fell 2% on an as-reported basis and 1% on an FX-Neutral basis. eBay issued guidance for Q3 revenue between $2.46 billion and $2.52 billion, versus estimates of $2.23 billion. Despite the positive results, eBay shares fell 4.51% in after-hours trading.
July 26, 2023 | 9:00 pm
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Despite beating Q2 earnings and sales estimates, eBay's stock fell in after-hours trading. The company's Gross Merchandise Volume also fell.
eBay's stock fell despite the company beating Q2 earnings and sales estimates. This could be due to the fall in Gross Merchandise Volume, which is a key indicator of the company's performance. Investors may be concerned about the company's future performance, leading to the drop in stock price.
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