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Online marketplace eBay’s stock had a whipsaw after-hours trading session after the company reported slightly stronger than expected earnings.
The company reported earnings of $0.47 per share against analyst expectations of $0.45 per share. Revenues came in above expectations as well at $2.14 billion generated in the quarter versus $2.08 billion expected by analysts.
“We are executing our plan and making progress on our strategic priorities to ensure our buyers have the best choice of products and a simple, personalized shopping experience, while sellers benefit from our powerful selling platform,” said CEO Devin Wenig in an accompanying release.
The company reported gross merchandise volume of $20.5 billion for the quarter, which tracks the total dollar value bought and sold on the platform.
The stock jumped 5% immediately after the announcement in after-hours trading, but has since flipped, going negative. As of 5:09 p.m. ET shares are down $0.12 or 0.49%, at around $24.37 a share.