10/27, 10:06 PM (Source: TeleTrader)
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Chart for: eBay

eBay's Q3 net income, EPS down by 50% YoY

eBay Inc. announced on Wednesday its revenue in the third quarter of the year saw an annual rise of 11% to $2.5 billion, beating market expectations. On the other hand, its net income went down by 53% year-on-year to $283 million. Meanwhile, the company's diluted earnings per share (EPS) fell by 50% from $0.86 per share recorded in the same trimester in 2020 to $0.43.

"Our Q3 results, driven by the near completion of our managed payments migration, expansion of our advertising portfolio, and volume growth in our focus categories, demonstrate that our strategic playbook continues to work," eBay's Chief Executive Officer (CEO) Jamie Iannone remarked.

Following the release of the report, the company's shares plunged by 5.03% in the after-hours trading.

Breaking the News / JR