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HomeBusinesseBay Plummets 5 percent on Weak Guidance

eBay Plummets 5 percent on Weak Guidance

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eBay (NASDAQ:EBAY) shares plunged more than 5% pre-market today after the company reported a Q2 EPS beat, but missed the guidance for Q3. Q2 EPS came in at $1.03, above the consensus estimate of $0.99. Revenue was $2.5 billion, roughly in-line with expectations.
However, the company faced a 2% decline in gross merchandise volume, amounting to $18.2 billion.
Looking ahead to Q3, eBay provided guidance with adjusted EPS expected to fall within the range of $0.96 to $1.01, and revenue predicted to be between $2.46 billion and $2.52 billion. These projections were below Wall Street’s estimates, which had expected adjusted EPS of $1.02 on revenue of $2.47 billion.

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