Why eBay Stock Is Trading Higher Wednesday

eBay Inc (NASDAQ:EBAY) reported third-quarter financial results Wednesday after market close.

Here are the key highlights.

• More on why EBAY stock is surging

eBay Q3 Financials

eBay reported third-quarter revenue of $3.206 billion, up 14% year-over-year. The revenue total beat a Street consensus estimate of $3.114 billion, according to data from Benzinga Pro.

Gross Merchandise Volume was $23.2 billion in the quarter, up 15% year-over-year.

The company reported earnings of $1.51 per share, beating a Street consensus estimate of $1.41 per share.

Goldin, which is owned by eBay, had another record quarter for gross merchandise volume, highlighted by a $3.65 million Declaration of Independence sale.

"eBay’s strong third quarter results reflect continued momentum across our business priorities and customer segments as more consumers embrace recommerce," eBay CEO Jamie Iannone said.

Iannone said the company’s focus categories are helping drive "strong, sustained growth.

What’s Next for Ebay

The company provided guidance for fourth-quarter financials and the fiscal year.

For the fourth quarter, eBay expects the following:

• Revenue: $3.19 billion to $3.24 billion (+7% to +9%)
• EPS: $1.48 to $1.53
• GMV: $23.7 billion to $24.1 billion

For the fiscal year, the company expects the following:

• Revenue: $12.62 billion to $12.67 billion (+14%)
• EPS: $6.25 to $6.30
• GMV: $91.5 billion to $91.9 billion

Guidance comes in above analyst estimates for fourth-quarter and full-year results.

"By investing with discipline in our highest strategic priorities and focusing on the areas where we have a clear competitive advantage, we are positioning eBay for durable, profitable growth and long-term shareholder value," eBay Chief Financial Officer Peggy Alford said.

eBAY Stock Price Action

eBay shares are up 5.91% to $125 in after-hours trading Wednesday versus a 52-week trading range of $78.03 to $124.59.

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