- Prachi Singh |
For its third quarter, eBay Inc. said revenue was 2.6 billion dollars, up 25 percent on both an as-reported basis and an FX-Neutral basis. The company said in a statement that GAAP net income from continuing operations was 621 million dollars or 88 cents per diluted share, while non-GAAP net income was 604 million dollars or 85 cents per diluted share.
“On an apples to apples basis, we delivered results that exceeded expectations on both the top and bottom lines. Our third quarter performance reflects the strength of our newly focused strategy coupled with the enormous untapped potential of our marketplace,” said Jamie Iannone, Chief Executive Officer at eBay Inc.
The company’s annual active buyers grew by 5 percent for a total of 183 million global active buyers, while gross merchandise volume (GMV) was 25 billion dollars, up 22% on an as-reported basis and up 21 percent on a foreign exchange (FX) neutral basis, year-over-year.
Based on the company’s improved revenue and earnings outlook for Q4 and full year 2020, eBay has raised its full year guidance for continuing operations. For the fourth quarter, the company expects organic FX-neutral revenue growth of 19 to 22 percent and revenues in the range of 2.64 to 2.71 billion dollars, GAAP EPS between 58 to 64 cents per share and non-GAAP EPS between 78 cents to 84 cents per share.
For the full year, the company now anticipates organic FX-neutral revenue growth of 19 to 20 percent and revenues in the range of 10.04 to 10.11 billion dollars, GAAP EPS between 3 to 3.06 dollars per share and non-GAAP EPS between 3.34 dollars to 3.40 dollars per share.
Picture:eBay press room