eBay said it expects fourth-quarter earnings of between 97 cents and $1.01 per share on revenue of between $2.57 billion and $2.62 billion. Analysts are expecting earnings of 99 cents per share on revenue of $2.61 billion.
The San Jose-based company reported third-quarter earnings of 90 cents per share on revenue of $2.5 billion, which was below the revenue it reported in the third quarter in both 2020 and 2019.
Analysts were expecting earnings of 89 cents per share on revenue of $2.45 billion.
"Our Q3 results, driven by the near completion of our managed payments migration, expansion of our advertising portfolio, and volume growth in our focus categories, demonstrate that our strategic playbook continues to work," CEO Jamie Iannone said.
eBay shares were falling 5.34% to $73.51 per share premarket Thursday.
Revenue for the third quarter was up 11% year over year though gross merchandise volume was down 10% year over year.
The company also touted its payment management system in the quarter. eBay said trusted sellers in the U.K. are now being paid the next business day after confirming a buyer's payment.
eBay is raising its estimated share buyback to $7 billion from $5 billion.
The company also announced this month that it is committed to reducing its emissions by 90% by 2030 from 2019.