The online trading platform Ebay has disappointed investors with its sales forecast for the Christmas business. Ebay forecast revenues of between $2.47 and $2.53 billion for the current quarter.
Analysts had expected an average of $2.6 billion. The shares temporarily fell by around six percent in after-hours trading on Tuesday. Ebay competes with heavyweights such as Amazon and Walmart in the USA for consumers’ online purchases.
In the last quarter, sales increased by five percent year-on-year to $2.5 billion. The bottom line was that there was a profit of 1.3 billion dollars (1.2 billion euros) after being in the red of 70 million dollars a year earlier. The deciding factor for this was, among other things, valuation gains. (dpa)