Daily Management Review

Largest online auction site eBay shows skyrocketing profits


Net profit of the world's largest online auctioneer eBay increased 2.4 times to $11.639 billion in January-September 2021 compared to the same period last year, the company said in a report.

Diluted earnings per share were $17.16 for the reporting period, compared with $6.65 a year earlier. The company's January-September revenue rose 21.6% to $7.807 billion.

eBay's third-quarter net income fell 2.5 times year on year to $264 million. Diluted earnings per share were $0.41 versus $0.95. Quarterly revenue fell 10% to $2.501 billion. The number of active customers in the third quarter fell by 5% to 154 million.

For the fourth quarter, the company expects revenue of $2.57 billion to $2.62 billion and diluted earnings per share in the range of $0.72 to $0.76.

After the close of principal trading, eBay shares are down 4.8%.

source: cnbc.com