The current-quarter revenues of eBay’s fell below the estimates of the Wall Street as the company faces fierce competition from bigger rivals Amazon.com and Walmart in the run-up to the crucial holiday shopping season. Shares of the company declined 2.73 per cent to $38.13 in extended trading as the holiday quarter typically generates a majority of its annual sales and profit. It forecasted its fourth-quarter adjusted profit from continuing operations in the range of 73 cents to 76 cents per share and net revenue of $2.77 billion and $2.82 billion.

Active buyers of the company grew by 4 per cent to 183 million in the reported quarter. However, its gross merchandise volume, which is the value of goods sold on its websites within a certain time frame, declined by 4 percent to $21.72 billion.

The company’s net income fell to $310 million, or 37 cents per share, in the third-quarter ended Sept. 30, from $721 million, or 73 cents per share, a year earlier.