Topic: How To Invest

Wall Street Stock Forecaster Hotline – Friday, November 10, 2023

Article Excerpt

EBAY INC., $39.85, Nasdaq symbol EBAY, is still a buy for long-term gains. The company operates e-commerce websites, in over 190 countries, where sellers pay fees to auction items or offer them at fixed prices. eBay reported better-than-expected results for the third quarter of 2023. However, due to weakness at its European operations and slowing consumer spending, its forecast for the fourth quarter fell short of broker estimates. That caused the stock to drop 2% this week. Revenue in the three months ended September 30, 2023, rose 5.0%, to $2.50 billion from $2.38 billion a year earlier. That beat the consensus forecast of $2.36 billion. Gross Merchandise Volume (GMV), the total value of merchandise sold on eBay’s platform, improved 1.6% in the quarter to $17.99 billion from $17.72 billion a year earlier. That offset a 1.5% drop in the number of active buyers to 131 million (excluding the recent shutdown of its marketplace business in Turkey). If you factor out unusual items, eBay’s overall earnings…