Investing.com -- eBay (NASDAQ:EBAY) reported Wednesday earnings guidance for the current quarter that fell short of analyst estimates overshadowing better-than-expected second-quarterly results.
eBay shares fell 6% in premarket Thursday following the report.
eBay announced adjusted EPS of $1.03 on revenue of $2.54B. Analysts polled by Investing.com anticipated EPS of $0.99 on revenue of $2.51B.
Gross merchandise volume was $18.2B, down 2% on an as-reported basis.
For Q3, the e-commerce platform guided adjusted EPS in a range of $0.96 to $1.01 on revenue of $2.46B to $2.52B. That compared with Wall Street estimates for adjusted EPS of $1.02 on revenue of $2.47B.
JPMorgan analysts commented:
"N-T macro uncertainty & margin compression expected for 2023, coupled w/additional execution risk on the next phase, give us some caution."
Goldman Sachs analysts reiterated a Sell rating, although they "acknowledge[s] that upward performance on revenue growth opportunity and/or upside surprises on capital returns could drive the shares above our current risk/reward framework," they said in a note.
(Additional reporting by Senad Karaahmetovic)