In the list of companies making huge moves in the stock markets, eBay is the first company to make it to the top this time. The reports reveal that the stock prices for eBay, e-commerce and online bidding marketplace have experienced a plummet. In the premarket trading action, the share prices for eBay have experienced over a 5.1% drop.
It was really shocking to see that the share prices for eBay have experienced a drop despite sharing a promising earnings report. Just like other major firms, eBay also publicly shared its earnings report for the third quarter of 2021. For the particular quarter, eBay reported having generated earnings worth 90 cents per share. Whereas, the analysts had predicted that the company would be able to achieve earnings worth 89 cents per share.
Even the revenue eBay generated for the third quarter of 2021 was higher than the revenue that the analysts had expected. Still, the company ended up incurring over 5.1% stock price loss in the premarket trading. According to reports, eBay incurred the loss as the guidance it shared for the upcoming quarter. Due to the company’s lack of confidence in terms of earnings/revenues for the upcoming quarter, it ended up lowering its earnings.
ServiceNow comes next in the list experienced a slid in the stock prices in the premarket trading. The reports confirm that ServiceNow experienced an over 2.5% slid in the premarket trading. ServiceNow is one of the major firms that is known for providing services related to the human resources sector. The company also experienced an unusual loss in its share prices despite sharing above-expectation earnings for the third quarter of 2021.
For the third quarter of 2021, ServiceNow revealed that it generated earnings worth $1.55 per share. Whereas, the analysts had predicted that the company would achieve earnings worth $1.38 per share. The company still faced a loss in share prices as the guidance it shared for the upcoming quarters was slightly lower than the estimations.
The next company on the list is WPP Group that has recorded over a 7.4% increase in the share prices in the premarket action. The data from the stock market reports reveal that the company experienced a rise after sharing the earnings report for the third quarter of 2021. In the earnings report, the advertising agency operator bragged how easy it was for them to beat the earnings and revenue estimations made by analysts.
The firm revealed that its earnings, as well as the revenue figures, were much higher than the estimated figures by the analysts. For generating high earnings in the respective quarter, the company is confident that its sales will experience a rise in the upcoming quarters. This is the reason why WPP Group has increased its earnings guidance for the running and upcoming quarters.