EBay forecasts robust holiday sales as online shopping drives profit beat | Malay Mail

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NEW YORK, Oct 29 ― E-commerce company eBay Inc yesterday forecast holiday-quarter sales above estimates and topped Wall Street profit expectations, as people staying at home due to the Covid-19 pandemic took to online shopping. Shares of the company, however, fell 5 per cent in extended trade,...

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Thursday, 29 Oct 2020 07:31 AM MYT

NEW YORK, Oct 29 ― E-commerce company eBay Inc yesterday forecast holiday-quarter sales above estimates and topped Wall Street profit expectations, as people staying at home due to the Covid-19 pandemic took to online shopping. “These metrics are likely raising concerns regarding what growth might look like once the Covid-related tailwinds for the business ease,” Atlantic Equities analyst James Cordwell said.

“We continue to operate in an environment with low visibility...The dynamics we faced in Q3 were different from what we faced in Q2, and it's clear that Q4 will be different,” eBay's interim chief financial officer, Andy Cring, said on a conference call with analysts.

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