eBay Dives Following Q3 Earnings Release

Shares of eBay

are trading lower in the after-hours following the release of the company's Q3 earnings results. Currently, shares are lower by 5.46%, trading at $31.37; they ended the regular session lower by 2.04%, at $33.18. eBay reported Q3 EPS of $0.48 on revenues of $2.97 billion; the Street was looking for $0.48 per share on revenues of $2.91 billion. Revenues increased 31.9% year over year. "Our company reported another strong quarter, with eBay, PayPal and GSI each performing well," said eBay Inc. President and CEO John Donahoe. "Mobile commerce continues to accelerate as consumers change the way they shop and pay. We expect eBay mobile commerce to generate almost $5 billion in merchandise volume this year and PayPal mobile to exceed $3.5 billion in payment volume.” “Mobile is one way online and offline shopping are blending into a single commerce environment. We are focused on enabling commerce, helping consumers shop anytime, anywhere, and being the commerce partner of choice for retailers of all sizes." The company sees Q4 EPS in the range of $0.55-0.58 on revenues of $3.20-3.35 billion. eBay Inc. bring together buyers and sellers every day on a local, national and international basis through a range of Websites. It provides online marketplaces for the sale of goods and services, as well as other online commerce, or ecommerce, platforms and online payment solutions to a diverse community of individuals and businesses.