eBay reports Q316 earnings and results
eBay Inc’s revenue has grown for the 3rd consecutive quarter, according to results posted on Wednesday for the third quarter of 2016. Revenue growth was 5.6% over the same period in 2015.
eBay reported $2.22 billion in revenue compared with last year’s $2.1 billion in the same period. Net income of $413 million, roughly 36 cents a share, was however lower than the $539 million, or 45 cents, eBay posted a year ago.
When adjusted eBay exceeded analyst expectations, but the stock price took a bit of a battering in after hours trading falling 7%. There was some disappointment that GMV (gross merchandise volume) was not as buoyant as hoped. It came in at $20.1 billion instead of the expected $20.3 billion.
And eBay-owned StubHub is doing very well. It reported a 31% increase in sales up to $261 million and that’s growth greater than eBay Inc. as a whole.