U.S. Stock Movement | eBay (EBAY.US) Plunges Nearly 14% on Lower-than-Expected Q4 Profit Guidance
Stock News
Oct 30
On Thursday, eBay (EBAY.US) plummeted nearly 14%, marking its largest single-day drop in over two decades, closing at $86.76. The company reported a 9% year-over-year increase in Q3 revenue to $2.82 billion, surpassing market expectations of $2.73 billion. Adjusted earnings per share (EPS) stood at $1.36, slightly above the consensus estimate of $1.33. Gross merchandise volume (GMV) for the quarter rose 10% to $20.1 billion. However, eBay's Q4 revenue guidance midpoint of $2.86 billion, though marginally higher than the expected $2.8 billion, came with EPS projections between $1.31 and $1.36—below the anticipated $1.38, triggering the sell-off.
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