E-commerce company eBay Inc. reported on Tuesday an 6% rise in revenue in the third quarter compared to the same period a year ago, on a foreign exchange (FX) neutral basis, arriving at $2.6 billion. Earnings per diluted share (EPS) amounted to $0.73, up 52% year over year in the same period.The company added that its net income added 8% in the three months through September, totaling $554 million. At the same time, income from continuing operations spiked 38%, from $520 million to $720 million. For the next quarter, net revenue is expected between $2.85 billion and $2.89 billion and EPS in the $0.87 - $0.92 range."We will continue to innovate the customer experience while executing our growth initiatives in Payments and Advertising to position eBay for future success," said Devin Wenig, President and CEO of eBay.eBay's shares jumped over 5% following the release.
American social media and networking giant Facebook, Inc. said on Tuesday its earnings per share jumped 10% year over year to $1.76 in the third quarter of 2018, beating analyst projections. However, the company's revenue in the three months ending September 30 fell short of expectations, climbing 33% compared to the same period a year earlier at $13.73 billion."Our community and business continue to grow quickly, and now more than 2 billion people use at least one of our services every day," Chief Executive Officer Mark Zuckerberg said. "We're building the best services for private messaging and stories, and there are huge opportunities ahead in video and commerce as well," he added.Shares of the company fell 4.9% in after-hours trading following the release of its quarterly earnings.
United States stock markets finished the Tuesday trading session with major gains after yesterday's turbulent day in which the Dow Jones swang more than 900 points before closing 245 points lower. Investors will pay close attention to Facebook's third quarter earnings report due for release shortly after the closing bell. Meanwhile, General Electric, Pfizer, Allergan, COca Cola and Mastercard were among the major US companies that reported their figures before market open, while Amgen, T-Mobile and EBay will join Facebook in posting their quarterly numbers after the session ends.The Dow Jones added 455 points to end the session 1.86% higher, while the Nasdaq 100 soared 1.48% at the closing bell. Meanwhile, the S&P 500 rallied 1.65% to finish the trading day deeply in the positive territory. The euro was down 0.24% against the dollar to sell for 1.1344 at 9:00 pm CET
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