eBay has posted a lower-than-expected sales and profit forecast for its fourth quarter, as the online marketplace continues its batle with Amazon in the ecommerce sector. The firm expects sales of between $4.5bn (£2.8bn) and $4.6bn for the holiday period, falling shor of estimates. eBay blamed slowing growth in online shopping rates in the US, […]
eBay has posted a lower-than-expected sales and profit forecast for its fourth quarter, as the online marketplace continues its batle with Amazon in the ecommerce sector.
The firm expects sales of between $4.5bn (£2.8bn) and $4.6bn for the holiday period, falling shor of estimates.
eBay blamed slowing growth in online shopping rates in the US, and saw its shares fall as much as 5% on the news in extended US trading.
“US e-commerce softened considerably and we have a cautious outlook for the holiday season,” Chief Financial Officer Bob Swan told investors on a conference call.
Ebay reported net income for the third quarter of $689m, up 15% on the same period last year.
Sales rose 14% to $3.89bn, helped by growth in mobile trading on the eBay auction site.
