Overview
- Revenue reached $2.84 billion versus $2.76 billion expected, with operating income of $343 million topping forecasts.
- Gross merchandise value rose about 32% to roughly $92 billion, and gross profit climbed 24% to $1.3 billion.
- Management guided fourth-quarter revenue growth in the mid to high twenties and gross profit growth in the low to mid twenties, both above consensus.
- U.S.-listed shares fell roughly 3.5% to 4% after results, with GAAP EPS of $0.20 missing the $0.25 estimate.
- Recent leadership changes include the exits of COO Kaz Nejatian and CRO Bobby Morrison and the appointment of Jessica Hertz as COO, while Q4 results will reflect a PayPal-related revenue-recognition shift and investors track new AI features including the OpenAI Instant Checkout integration.