eBay is surging
EBay reported third-quarter earnings after the market close on Wednesday that were better than analysts expected.
Shares of the e-commerce company surged by about 8% in after-hours trading.
Revenues came in at $2.1 billion, a 2% drop compared to the same quarter last year. Earnings per diluted share were $0.43.
Analysts had estimated that the company earned $2.09 billion in sales, and adjusted EPS of $0.40, according to Bloomberg.
"We drove solid results in the quarter in which we completed a complex separation," said CEO Devin Wenig, referring to the company's split from PayPal in July.
EBay, like many companies, felt the pinch of the strong dollar, as its gross merchandise volume (GMV, which is the total value of merchandise sold) fell 2% to $19.6 billion. Without the foreign-currency impact, GMV rose 6%.
The company boosted its outlook for full-year earnings per share to a range of $1.80 to $1.82 from $1.72 to $1.77.
EBay shares have rallied 13% over the past year.