In the third quarter, eBay adjusted earnings and revenues gained, beating an analyst estimate, as gross merchandise volume also advanced.
Net income from continuing operations was $636 million, or $1.29 per diluted share, versus $1.31 billion, or $2.46 per share, in the year-before quarter. Adjusted for one-time events, net earnings were $588 million, or $1.19 per diluted share, versus $545 million, or $1.03 per diluted share, in the year-previous period, according to the company.
In the quarter, reported revenue came in over a Zacks Investment Research analyst consensus estimate of $2.55 billion while adjusted diluted earnings beat a $1.18.
Net revenue in the quarter was $2.58 billion versus $2.5 billion in the quarter a year-prior, eBay reported. Operating income was $595 million versus $455 million in the year-earlier period while adjusted operating income was $700 million versus $658 million.
Gross merchandise volume (GMV) was $18.3 billion, up 2% on an as-reported basis and up 1% on a foreign exchange neutral basis.
“We achieved another quarter of positive GMV growth and delivered strong results across our key metrics,” said Jamie Iannone, eBay CEO. “Our Focus Categories and geo-specific investments are driving momentum in the business, and we are leveraging the power of Al to create magical innovations for our customers.”
