Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
News: Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 
All NewsEconomyCurrencies & ForexEconomic EventsCryptocurrenciesCybersecurityPress Releases

EBay revenue outlook disappoints as pandemic-led boom fades

10/27/2021 | 04:46pm EST
FILE PHOTO: The eBay logo is pictured on a phone screen in this photo illustration

(Reuters) -EBay Inc on Wednesday projected holiday-quarter revenue below market expectations, another sign that the online shopping boom fueled by the pandemic was tapering as consumers returned to stores.

The company was a big corporate winner in 2020 when lockdowns forced people to shop on its online marketplace, but growth has slowed since then as vaccinations encourage consumers to step out.

EBay said it expected fourth-quarter revenue between $2.57 billion and $2.62 billion, well below analysts' average estimate of $2.65 billion, according to Refinitiv IBES data.

The company also reported a 5% decline in the number of active buyers on its marketplace in the third quarter.

Gross merchandise volume, the total dollar value of sales on eBay from which the company takes a percentage, fell 10%.

But a strong showing by its payment services and the expansion of its advertising portfolio drove a 11% jump in revenue that was better expectations.

The company has doubled down on its core auction and e-commerce business in recent years through deals in a bid to fend off rising competition from industry behemoth Amazon.com Inc and upstarts such as Etsy Inc.

It earned 90 cents per share on an adjusted basis, a cent above estimates.

For the current quarter, it expects adjusted profit between 97 cents and $1.01 per share. Analysts expected $1 per share.

(Reporting by Nivedita Balu in Bengaluru; Editing by Aditya Soni)


© Reuters 2021
Latest news "Economy & Forex"
04:08aSustained high inflation could undermine cenbank credibility, Russia's Nabiullina says
RE
04:07aGrab's $40 billion Nasdaq debut to set tone for Southeast Asian tech listings
RE
03:57aChina advisers to recommend lower 2022 GDP target as headwinds grow - sources
RE
03:55aGlobal palm oil supply won't reach pre-pandemic levels next yr - Analyst Fry
RE
03:47aDenmark's central bank urges tighter lending rules to homeowners
RE
03:44aSpain's joblessness falls back to pre-pandemic levels
RE
03:41aChina property market to keep cooling into H1 2022 on tight curbs
RE
03:39aChina state planner to guarantee energy supply to fertiliser makers
RE
03:35aMiner Tharisa annual profit more than doubles on strong platinum prices
RE
03:35aCongo state cobalt monopoly aims to start buying in January
RE
Latest news "Economy & Forex"