E-commerce company eBay has reported its GAAP earnings per diluted share (EPS) from continuing operations were $2.46 in the third quarter (Q3) of fiscal year (FY) 2023.

The retailer recorded GAAP net income from continuing operations of $1.30bn in Q3 FY23.

The company’s GAAP operating margin decreased to 18.2% in the quarter, compared to 23.9% for Q3 FY22.

Its gross merchandise volume for the quarter ending 30 September 2023 was $18.0bn, an increase of 2% on an as-reported basis.

eBay registered total revenue of $2.5bn in Q3, up 5% on an as-reported basis from $2.38bn in the same period in FY22.

eBay chief executive officer Jamie Iannone said: “We delivered another quarter of solid results and have accelerated the pace of innovation across eBay. The strategic investments in our marketplace and the team’s strong execution are driving increased customer satisfaction, especially in focus categories. In the face of macroeconomic uncertainty, we continue to make meaningful progress against our ambitious vision to reinvent the future of e-commerce for enthusiasts.”

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By GlobalData

In the fourth quarter, eBay expects revenues in the range of $2.47bn – $2.53bn. For the full year, it expects revenues between $10.02bn – $10.08bn.

The retailer anticipates diluted GAAP EPS of $0.70 – $0.75 in the fourth quarter and $4.53 – $4.58 for the full year 2023.

In September this year, the US Justice Department, on behalf of the Environmental Protection Agency (EPA), filed a lawsuit against eBay for environmental violations.