eBay exceeds Wall Street expectations driven by collectibles

eBay reported third-quarter revenue and profit that surpassed Wall Street expectations, driven largely by high demand for collectibles such as trading cards, sports memorabilia, and coins. Revenue rose 14 percent to 3.21 billion dollars, exceeding the 3.12 billion dollars anticipated by analysts.

Adjusted earnings per share reached 1.51 dollars, beating the 1.41 dollars forecasted by analysts. The company's gross merchandise volume grew 15 percent year-on-year to 23.17 billion dollars. CEO Jamie Iannone noted that collectibles remain the primary growth driver, supported by initiatives like AI-powered scanning tools for trading cards and expanded authentication services for coins.

Following these results, eBay raised its full-year outlook. The company now predicts gross merchandise volume will grow by approximately 14 percent, up from a previous forecast of 12 percent. Annual revenue growth is now expected to be between 12 and 13 percent.