Home / Software & Service News / Ebay forecasts second-quarter profit below estimates

Ebay forecasts second-quarter profit below estimates


(Reuters) — Ecommerce company eBay on Wednesday forecast current-quarter profit largely below expectations, sending its shares down as much as 4.5 percent in extended trading.

Ebay said it expects current-quarter adjusted profit of 43-45 cents per share. Analysts on average were expecting 47 cents per share, according to Thomson Reuters.

The company said gross merchandise volume — the total value of all goods sold on its websites — rose 2.4 percent to $20.95 billion in the first quarter ended March 31, 2017. But the result fell short of analysts’ average estimate of $21.06 billion, according to research firm FactSet StreetAccount.

EBay has been facing relentless competition from much larger rival Amazon.

To lure more shoppers and better compete with Amazon as well as traditional retailers, the company has made several changes to its platform.

The San Jose, California-based company’s net income rose to $1.04 billion, or 94 cents per share in the first quarter, from $482 million, or 41 cents per share, a year earlier.

Excluding one-time items, the company earned 49 cents per share, beating analysts’ average expectation of 48 cents per share.

Revenue rose 3.7 percent to $2.22 billion.

(Reporting by Pushkala A and Laharee Chatterjee in Bengaluru; Editing by Sai Sachin Ravikumar)

Click Here For Original Source Of The Article

About Ms. A. C. Kennedy

Ms. A. C. Kennedy
My name is Ms A C Kennedy and I am a Health practitioner and Consultant by day and a serial blogger by night. I luv family, life and learning new things. I especially luv learning how to improve my business. I also luv helping and sharing my information with others. Don't forget to ask me anything!

Check Also

Now you can sleep on the cool side of the pillow literally all night

TwitterFacebook

'Moona' is a water-based system that regulates the temperature of your pillow. It connects to an app that tracks your motion throughout the night, and adjusts the temperature accordingly. Cool water is pumped through the system to induce sleepiness, and warm water to gently wake you.  Read more...

More about Apple, Iphone, Smartphones, Mashable Video, and Apps And Software

css.php