eBay Inc. (EBAY) will report its third quarter earnings after the close of trading on Thursday, November 7, 2023. (1) In case you don’t know, eBay operates marketplace platforms that connect buyers and sellers in the United States and internationally. The company’s marketplace platform includes its online marketplace at ebay.com and the eBay suite of mobile apps. Its platforms enable users to list, buy, and sell various products.
Wall Street expects the online retailer to earn 94 cents per share (EPS) for the quarter, down from a dollar during the same period last year. The topline is also expected to dip a little year over year, to $2.36 billion from $2.38 billion. Management does a good job of setting expectations as the company outperformed its earnings forecast in the last four quarters. (2)
EBAY shares have been whacked and currently trade a little bit above its 52-week low of $37.93. As we type, the stock is at $38.56. The technical story is straightforward for eBay. Beat earnings and deliver upbeat guidance, then the stock has a good chance to rally to resistance near its 50-week moving average.
With the stock recently setting its 52-week low, bad news is already baked in the cake as they say. A swing and miss might push shares to its multi-year low of $35, below there might be big trouble.
Trading earnings is highly risky and only for speculative investors who can afford to lose money in short periods.
1 – https://investors.ebayinc.com/events/event-details/2023/eBay-Q3-2023-Earnings-Call/default.aspx
2 – https://finance.yahoo.com/quote/EBAY/analysis?p=EBAY