eBay: shares slump after Q3 results.
(CercleFinance.com) - After trading on Wednesday eBay Inc.
reported higher Q3 results, although this did not stop its shares from falling in early trading on Wall Street.
The San Jose, California-based company reported non-GAAP net income from continuing operations of 514 million dollars, or 0.48 dollar per share, compared with 509 million dollars, or 0.45 dollar cents a share, in the same period last year.
Revenue was 2.4 billion dollars, up 9% on as reported and up 8% at constant exchange rates, from 2.2 billion dollars a year ago.
"In Q3, we drove acceleration across all three of our platforms, delivering strong top and bottom line financial results and our fastest volume growth in over three years," commented CEO Devin Wenig.
The e-commerce giant forecast full-year net revenue of between 9.53 billion and 9.57 billion dollars and non-GAAP EPS from continuing operations in a range of 1.99-2.01 dollars.
However, eBay shares were still down 3.1% on the Nasdaq at 36.8 dollars after these results.
"We like what we see in terms of changes but it seems Street expectations are for a faster pace," analysts at Jefferies explain, reiterating a "hold" rating on the shares.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
reported higher Q3 results, although this did not stop its shares from falling in early trading on Wall Street.
The San Jose, California-based company reported non-GAAP net income from continuing operations of 514 million dollars, or 0.48 dollar per share, compared with 509 million dollars, or 0.45 dollar cents a share, in the same period last year.
Revenue was 2.4 billion dollars, up 9% on as reported and up 8% at constant exchange rates, from 2.2 billion dollars a year ago.
"In Q3, we drove acceleration across all three of our platforms, delivering strong top and bottom line financial results and our fastest volume growth in over three years," commented CEO Devin Wenig.
The e-commerce giant forecast full-year net revenue of between 9.53 billion and 9.57 billion dollars and non-GAAP EPS from continuing operations in a range of 1.99-2.01 dollars.
However, eBay shares were still down 3.1% on the Nasdaq at 36.8 dollars after these results.
"We like what we see in terms of changes but it seems Street expectations are for a faster pace," analysts at Jefferies explain, reiterating a "hold" rating on the shares.
Copyright (c) 2017 CercleFinance.com. All rights reserved.