EBay Growth Ebbs, Sparking Concern Pandemic Boost Is Over
- Gross merchandise volume rises 22%, below previous quarter
- Shares of e-commerce company decline 4% after results
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EBay Inc.’s marketplace growth slowed in the third quarter, worrying investors that an online shopping boost from the Covid-19 pandemic isn’t sustainable.
Gross merchandise volume, the value of all goods sold on the site, rose 22% in the third quarter, down from 26% growth in the second quarter. International GMV increased 16%, a smaller gain than the previous period.