eBay Inc. (NASDAQ: EBAY) shares plummeted 14.52% in intraday trading on Thursday following the release of its third-quarter earnings report and fourth-quarter guidance. Despite beating analyst expectations for Q3, the e-commerce giant's stock took a significant hit due to disappointing fourth-quarter projections and growing concerns over recent regulatory changes affecting cross-border trade.

For the third quarter, eBay reported non-GAAP earnings of $1.36 per diluted share, surpassing the FactSet analyst consensus of $1.33. Revenue also exceeded expectations, coming in at $2.82 billion, up 9% year-over-year. The company's gross merchandise volume (GMV) reached $20.1 billion, outperforming analyst projections of $19.5 billion. However, these positive Q3 results were overshadowed by a cautious outlook for Q4.

eBay's fourth-quarter guidance fell short of Wall Street expectations, with the company forecasting diluted non-GAAP earnings per share between $1.31 and $1.36, below the analyst consensus of $1.38. This conservative outlook has raised concerns among investors about the company's near-term performance. Adding to these worries, eBay reported a deceleration in year-over-year volume growth starting in September in key markets importing into the US. This slowdown was attributed to the removal of the de minimis exemption, a regulatory change that is expected to have a full quarter impact in Q4. The company warned that this change could put pressure on its performance, particularly affecting small businesses and consumer confidence in imported goods. Furthermore, eBay continues to face macroeconomic challenges across international markets, which are likely to impact its growth prospects in the coming months.