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    EBAY   US2786421030

EBAY INC.

(EBAY)
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EBay forecasts revenue below estimates as shoppers venture out

08/11/2021 | 04:23pm EDT

Aug 11 (Reuters) - EBay Inc on Wednesday forecast current quarter revenue below analysts' estimates, signaling that reopening economies and vaccine rollouts could be putting an end to the pandemic-led shopping boom.

In the past year, customers turned to e-commerce platforms during the coronavirus pandemic as they were home-bound for months at a stretch, but vaccine rollouts are expected to lead a return to brick-and-mortar shopping as more people step out of their homes.

EBay said it expects third-quarter revenue in the range of $2.42 billion to $2.47 billion, while analysts were expecting $2.92 billion, according to IBES data from Refinitiv.

Shares of the e-commerce firm fell 1% after the bell.

Jamie Iannone, eBay's chief executive, said an increase in people on the move in the spring had impacted sales, but the company's playbook in areas such as collectibles, ads and payments was working.

"We feel like we're coming out of the pandemic stronger than we came into it," he said in an interview.

He said that excluding eBay's deal to sell 80% of its Korea business to Shinsegae Group's E-Mart Inc, the company met or exceeded forecasts.

Last month, Amazon.com Inc's second-quarter revenue missed analysts' estimates, and the company hinted at slower sales growth in the e-commerce sphere.

EBay said its second-quarter revenue rose about 14% to $2.68 billion, its slowest growth in four quarters. Analysts expected sales of $3.00 billion.

The company's gross merchandise volume (GMV), which is the value of goods sold on its websites within a certain time frame, fell 7% to $22.1 billion.

The company expects to see an additional drop in active buyers on a rolling 12-month basis, but an increase in GMV per buyer in the coming quarters, Chief Financial Officer Stephen Priest said on a post-earnings call.

On an adjusted basis, the company earned 99 cents per share, above analysts' estimate of 95 cents.

EBay has also expanded its share buyback program by $3 billion. (Reporting by Nilanjana Basu and Mrinalika Roy in Bengaluru and Jeffrey Dastin in San Francisco; Editing by Maju Samuel)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
AMAZON.COM, INC. 1.68% 3376.07 Delayed Quote.2.41%
E-MART INC. 1.78% 171500 End-of-day quote.13.20%
EBAY INC. -2.57% 78.5 Delayed Quote.60.38%
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Analyst Recommendations on EBAY INC.
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Financials (USD)
Sales 2021 10 412 M - -
Net income 2021 1 840 M - -
Net Debt 2021 5 604 M - -
P/E ratio 2021 29,6x
Yield 2021 0,89%
Capitalization 52 375 M 52 375 M -
EV / Sales 2021 5,57x
Capi. / Sales 2022 4,77x
Nbr of Employees 12 700
Free-Float 36,8%
Chart EBAY INC.
Duration : Period :
eBay Inc. Technical Analysis Chart | EBAY | US2786421030 | MarketScreener
Technical analysis trends EBAY INC.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 29
Last Close Price 80,57 $
Average target price 73,96 $
Spread / Average Target -8,20%
EPS Revisions
Managers and Directors
Jamie Iannone President, Chief Executive Officer & Director
Stephen J. Priest Chief Financial Officer & Senior Vice President
Paul S. Pressler Chairman
Mazen Rawashdeh Chief Technology Officer & Senior Vice President
Molly Finn Chief Compliance Officer & Vice President
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