4 Alarming Takeaways From eBay's Earnings Report
Expectations were muted going into eBay's (NASDAQ: EBAY) third-quarter earnings report on Thursday. The ongoing drama of activist investors agitating for change was the backdrop for the sudden announcement that CEO Devin Wenig is stepping down. The catalyst was reportedly a disagreement over whether to sell eBay's Classifieds business and StubHub.
eBay's financial results were mixed. The tech company reported revenue of $2.649 billion, near the midpoint of its forecasted range but flat compared with the prior-year quarter. Adjusted earnings per share (EPS) of $0.67, was the high point -- up more than 19% year over year, surpassing the high end of management's guidance. Analysts' consensus estimates had been calling for adjusted EPS of $0.64 on revenue of $2.64 billion.
Let's look at four of the biggest takeaways from eBay's quarter and what they reveal about the future of the company.
Source Fool.com
