E-commerce company eBay expects to post a lower-than-estimated profit in the fourth quarter, reporting weak demand for products such as collectibles and refurbished goods, sending its shares down 7% in after-market trading.
Discretionary spending remains subdued in the face of high interest rates and persistent inflation.
Tariffs and changes to certain customs requirements in the United States also created significant uncertainty for small businesses, while concerns about rising prices for imported goods impacted consumer confidence.
eBay expects adjusted earnings of $1.31 to $1.36 per share for the fourth quarter, below the average estimate of $1.39 per share, according to data compiled by LSEG.
The company expects revenue of $2.83 billion to $2.89 billion for the quarter, above the estimate of $2.79 billion.
Source: Terra
Rose James is a Gossipify movie and series reviewer known for her in-depth analysis and unique perspective on the latest releases. With a background in film studies, she provides engaging and informative reviews, and keeps readers up to date with industry trends and emerging talents.
