Shares of auction and e-commerce company eBay Inc ( EBAY ) are falling on Wednesday after the company reported third-quarter financial results and updated guidance.

• EBAY ( EBAY ) stock is struggling to find support. Find out why here.

Q3 Results: Ebay ( EBAY ) reported third-quarter revenue of $2.82 billion, up 9% year-over-year. The revenue beat a Street consensus estimate of $2.73 billion, according to data from Benzinga Pro.

The company reported third-quarter earnings per share of $1.36, beating a Street consensus estimate of $1.33.

Gross merchandise volume of $20.1 billion in the quarter was up 10% year-over-year.  

"Q3 was another strong quarter for eBay ( EBAY ), reflecting continued momentum across our marketplace and disciplined execution of our strategy," eBay ( EBAY ) CEO Jamie Iannone said.

The company said it closed its acquisition of consumer-to-consumer social marketplace Tise in October. The acquisition is expected to boost eBay's ( EBAY ) connection with Gen Z and Millennial shoppers.

Read Also: Analyst Ratings For EBay

What's Next: The company sees fourth-quarter earnings per share coming in a range of $1.31 to $1.36, below a Street consensus estimate of $1.39, according to Benzinga Pro.

The company is guiding for fourth-quarter revenue of $2.83 billion to $2.89 billion, ahead of a Street estimate of $2.80 billion.

For the full fiscal year, the company's revenue guidance is $10.97 billion to $11.03 billion, ahead of a Street estimate of $10.85 billion.

Full-year earnings per share guidance of $5.42 to $5.47 is in range with a Street estimate of $5.46.

"We're transforming the eBay ( EBAY ) experience through AI built on 30 years of unique insights," Iannone said.

The eBay ( EBAY ) CEO said improvements to shipping, live commerce and fashion are meant to help "reinvent the future of ecommerce."

EBAY Price Action: Ebay ( EBAY ) stock is down 4.54% to $95.02 in after-hours trading on Wednesday versus a 52-week trading range of $56.38 to $101.15.

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