Online marketplace swings to profit and exceeds earnings estimates
- EBay swung to a profit in 3Q
- Revenue grew to $2.5 billion
- Adjusted earnings were $1.03 a share
- Gross merchandise volume increased 2% to $18 billion
Online marketplace eBay reported a net income of $1.31 billion, or $2.46 a share, for the third quarter, compared to a loss of $69 million, or 13 cents a share, in the same period last year. Adjusted earnings were $1.03 a share, surpassing analysts’ estimates of $1 a share. Revenue rose to $2.5 billion, slightly below expectations of $2.51 billion. Gross merchandise volume increased by 2% to $18 billion. eBay remains focused on cost efficiencies and capital stewardship for shareholders.
Factuality Level: 8
Factuality Justification: The article provides specific financial figures and quotes from the company’s CFO, which adds credibility to the information. However, it lacks any independent analysis or verification of the reported numbers.
Noise Level: 7
Noise Justification: The article provides financial information about eBay’s profit and revenue growth in the latest quarter. However, it lacks analysis, context, and any mention of long-term trends or antifragility. It also does not hold powerful people accountable or provide actionable insights or solutions. The article stays on topic and supports its claims with data, but overall, it contains mostly filler content and does not provide much value beyond the basic financial information.
Financial Relevance: Yes
Financial Markets Impacted: The financial markets may be impacted by eBay’s positive financial performance, as it indicates a strong performance in the e-commerce sector.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: The article discusses eBay’s financial performance in the latest quarter, which is relevant to financial topics. There is no mention of any extreme event in the article.
Public Companies: eBay (EBAY)
Key People: Steve Priest (Chief Financial Officer)
Reported publicly:
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