Ebay Inc Down 5.03% Despite Market's Bullish Trend

The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.

On the revenue line, the company reported $2.5 billion, beating estimates by $140 million. In the same quarter a year ago, the company earned $1 per share on revenue of $2.4 billion.
The stock is down 5.03% to $38.01 after the report. Ebay Inc's revenue expanded at a faster pace than earnings, signaling a decline in profit margins.

Ebay Inc has performed a little below average during the past few months. The firm was recently trading at a 52-week low of $37.93 on October 27, 2023 and set a 52-week high on February 2, 2023 at $52.23.

eBay operates one of the largest e-commerce marketplaces in the world, with $87 billion in 2021 gross merchandise volume, or GMV, rendering the firm the sixth- largest global e-commerce company. eBay generates revenue from listing fees, advertising, revenue-sharing arrangements with service providers, and managed payments, with its platform connecting more than 147 million buyers and roughly 20 million sellers across almost 190 global markets. eBay generates just north of 50% of its GMV in international markets, with a large presence in the U.K., Germany, and Australia.

Price Momentum
EBAY is trading near the bottom of its 52-week range and below its 200-day simple moving average.

What does this mean?
Investors have been pushing the share price lower, and the stock still appears to have downward momentum.

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