EBay beats quarterly revenue estimates
:EBay Inc on Wednesday exceeded market estimates for quarterly revenue as customers used its auction and e-commerce platform to shop online during the COVID-19 pandemic.Revenue rose to US$2.50 billion in the third quarter from US$2.26 billion, beating analysts' average estimate of US$2.46 billion, according t
:EBay Inc on Wednesday exceeded market estimates for quarterly revenue as customers used its auction and e-commerce platform to shop online during the COVID-19 pandemic.Revenue rose to US$2.50 billion in the third quarter from US$2.26 billion, beating analysts' average estimate of US$2.46 billion, according to Refinitiv data.
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 forecast fourth-quarter revenue to grow in a range of 3per cent to 5per cent and projected adjusted profit between 97 cents and US$1.01 per share.
(Reporting by Nivedita Balu in Bengaluru; Editing by Aditya Soni) Read more: CNA »
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