eBay (NASDAQ:EBAY) provided guidance for the fourth quarter that missed analyst expectations.
The company expects net revenue in the range of $2.47 billion to $2.53 billion, while analysts were looking for as much as $2.6 billion. eBay sees Q4 EPS in the range of $1.00-$1.05, while the consensus stood at $1.05.
EBay shares lost more than 6% in response to the reported results.
Looking at the full year, eBay anticipates net revenue to be between $10.02 billion and $10.08 billion. eBay sees FY EPS of $4.17-$4.22. The Street had expected FY EPS of $4.15 on revenue of $10.15 billion.
“In the face of macroeconomic uncertainty, we continue to make meaningful progress against our ambitious vision to reinvent the future of ecommerce for enthusiasts,” said Jamie Iannone, Chief Executive Officer at eBay.
In the third quarter, eBay reported adjusted EPS from continuing operations of $1.03, better than the consensus by 3 cents. The revenue for the quarter was $2.50 billion, marking a 5% year-over-year increase, and it was in line with the analyst estimate.
eBay's gross merchandise volume (GMV) in the third quarter reached $18.0 billion, reflecting a 1.6% increase YoY, which exceeded the estimate of $17.77 billion.
The number of active buyers on the platform was 132 million, showing a decrease of 2.2% YOY but still slightly above the consensus of 131.3 million.