Why eBay Shares Are Diving Post Q3 Earnings
Portfolio Pulse from Lekha Gupta
eBay Inc's shares are trading lower by around 6% after reporting Q3 FY23 earnings. The company's revenue rose 5% Y/Y to $2.500 billion, slightly missing the consensus of $2.502 billion. Adjusted EPS of $1.03 beat the consensus of $1.00. The company declared a dividend per share of $0.25. In Q3, eBay repurchased $651 million of its common stock. For Q4, eBay expects revenue and adjusted EPS of $2.47 billion - $2.53 billion and $1.00 - $1.05 respectively.
November 08, 2023 | 10:44 am
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eBay's shares dropped by 6% following its Q3 FY23 earnings report. The company's revenue slightly missed the consensus, but its adjusted EPS beat the consensus. eBay also declared a dividend and repurchased $651 million of its common stock.
eBay's shares dropped due to its Q3 FY23 earnings report. The company's revenue slightly missed the consensus, which could have disappointed investors. However, the company's adjusted EPS beat the consensus, which is a positive sign. The declaration of a dividend and the repurchase of its common stock could also be seen as positive actions by the company. Despite these positive aspects, the overall reaction to the earnings report was negative, leading to a drop in the company's share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100