{"id":25103,"date":"2023-04-26T23:41:32","date_gmt":"2023-04-26T23:41:32","guid":{"rendered":"http:\/\/lynettelockhart.com\/client\/ebay-forecasts-quarterly-revenue\/"},"modified":"2023-04-26T23:44:17","modified_gmt":"2023-04-26T23:44:17","slug":"ebay-forecasts-upbeat-revenue","status":"publish","type":"post","link":"http:\/\/lynettelockhart.com\/client\/ebay-forecasts-upbeat-revenue\/","title":{"rendered":"EBay forecasts upbeat revenue as sneakers, refurbished items drive growth"},"content":{"rendered":"<p>By Yuvraj Malik<\/p>\n<p>(Reuters) -EBay Inc on Wednesday forecast current-quarter revenue above Wall Street projections after beating March-quarter earnings estimates, as it benefits from its strategy of focusing on product categories including sneakers and watches.<\/p>\n<p>A selective push from the ecommerce firm also on items like collectibles and refurbished products is helping it drive sales at a time when consumer spending has moderated due to high inflation.<\/p>\n<p>&#8220;There remains a dynamic and uncertain macro economic environment across the globe with inflation and rising interest rates and pressured consumer confidence &#8230; but our focus categories remain relatively resilient,&#8221; Chief Executive Jamie Iannone said in an interview.<\/p>\n<p>The upbeat results soothed investor sentiment, which was hit after eBay earlier this year said that demand weakness will persist in the first half of 2023. The company&#8217;s shares rose 5% in after-hours trading.<\/p>\n<p>EBay is expanding listings under refurbished electronics, luxury bags and watches, and the collectibles category. The company bought trading cards marketplace TCGplayer last year.<\/p>\n<p>San Jose, California-based eBay now expects June-quarter revenue in the range $2.47 billion to $2.54 billion, higher than analysts&#8217; projection of $2.43 billion, according to Refinitiv.<\/p>\n<p>Revenue in the most recent March quarter grew 1% to $2.51 billion, also beating analysts&#8217; estimate of $2.48 billion. Adjusted earnings per share of $1.11 also came in higher than estimate of $1.07.<\/p>\n<p>Gross merchandise volume, a key industry gauge that denotes the total value of goods and services sold on the marketplace, however, fell 5% to $18.4 billion.<\/p>\n<p>&#8220;EBay seems to be gaining its original innovative mojo with improved payment, marketing, storage, user interface, and authentication,&#8221; said Michael Ashley Schulman, chief investment officer at Running Point Capital Advisors.<\/p>\n<p>&#8220;Yet their potential earnings growth and turnaround capabilities don&#8217;t seem to be baked into the stock price.&#8221;<\/p>\n<p>EBay&#8217;s shares have gained 4.6% so far this year, compared with a 13.3% rise in the tech-heavy Nasdaq index.<\/p>\n<p> (Reporting by Yuvraj Malik in Bengaluru; Editing by Maju Samuel)<\/p>\n<p><a href=\"http:\/\/lynettelockhart.com\/client\/ebay-forecasts-upbeat-revenue\/file-photo-the-ebay-app-is-seen-on-a-smartphone\/\"><img decoding=\"async\" src=\"http:\/\/lynettelockhart.com\/client\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportBusinessNews\/tagreuters.com2023binary_LYNXMPEJ3P0YM-VIEWIMAGE.jpg\" alt=\"tagreuters.com2023binary_LYNXMPEJ3P0YM-VIEWIMAGE\"><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Yuvraj Malik (Reuters) -EBay Inc on Wednesday forecast current-quarter revenue above Wall Street projections after beating March-quarter earnings estimates, as it benefits from its strategy of focusing on product categories including sneakers and watches. A selective push from the ecommerce firm also on items like collectibles and refurbished products is helping it drive sales [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":25104,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":""},"categories":[1213],"tags":[1223],"class_list":["post-25103","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-u-s-business","tag-updated"],"jetpack_featured_media_url":"http:\/\/lynettelockhart.com\/client\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportBusinessNews\/tagreuters.com2023binary_LYNXMPEJ3P0YM-VIEWIMAGE.jpg","_links":{"self":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/25103","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/comments?post=25103"}],"version-history":[{"count":3,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/25103\/revisions"}],"predecessor-version":[{"id":25362,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/25103\/revisions\/25362"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media\/25104"}],"wp:attachment":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media?parent=25103"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/categories?post=25103"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/tags?post=25103"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}