Why eBay Is Falling Today
Shares of eBay (NASDAQ: EBAY) were down over 7% heading into midday trading Thursday after the online e-commerce platform reported third-quarter earnings after the market closed yesterday. Adjusted earnings of $0.85 per share, a sizable increase from the $0.53 per share it recorded in the year-ago period, also came in well ahead of analyst predictions of $0.76 per share. Although such earnings beats tend to cause stock prices to jump, eBay's guidance for the fourth quarter had analysts wondering whether the boost the e-commerce site got from consumers visiting during the coronavirus pandemic would fade.
