eBay posts 8 percent revenue growth in Q3

eBay Inc delivered gross merchandise volume (GMV) for the quarter ended September 30, 2016 of 20.1 billion dollars, increasing 5 percent on FX neutral basis and 3 percent on as-reported basis. Revenue was 2.2 billion dollars, up 8 percent on FX-neutral basis and 6 percent on as-reported basis.

"In Q3 we delivered good top-line and bottom-line financial results, led by consistent performance across our business," said Devin Wenig, President and CEO of eBay Inc.”

Financial update of the third quarter

GAAP net income from continuing operations was 418 million dollars, or 0.36 dollar per diluted share, and non-GAAP net income was 509 million dollars, or 0.45 dollar per diluted share.

In the third quarter, eBay said, it added over one million active buyers across its platforms, to a total of 165 million global active buyers. The marketplace platforms delivered 19 billion dollars of GMV and 1.8 billion dollars of revenue.

Marketplace revenue was up 5 percent on an FX-neutral basis and 2 percent on an as-reported basis, driven by GMV growth of 4 percent on an FX-neutral basis and 2 percent on an as-reported basis. StubHub reported GMV of 1.1 billion dollars, up 23 percent, and revenue of 263 million dollars, up 32 percent. The Classifieds platforms revenue of 197 million dollars, increased 14 percent on an FX-neutral basis and 11percent on an as-reported basis.

Business outlook reflects revenue growth

In the fourth quarter, the company expects net revenue between 2.36 billion dollars and 2.41 billion dollars, representing FX-Neutral growth of 4 percent to 6 percent, with non-GAAP earnings per diluted share from continuing operations in the range of 0.52 dollars -0.54 dollars and GAAP earnings per diluted share from continuing operations in the range of 1.05 dollars to 1.15 dollars.

For the full year, the company expects net revenue between 8.95 billion dollars and 9 billion dollars, representing FX-neutral growth of 6 percent to 7 percent, with non-GAAP earnings per diluted share from continuing operations in the range of 1.85 dollars to 1.90 dollars and GAAP earnings per diluted share from continuing operations in the range of 2.22 dollars to 2.32 dollars.

Picture:eBay