EBay Holiday Quarter Forecast Trails Analysts’ Estimates
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EBay Inc. issued sales and profit forecasts that fell short of analysts’ estimates ahead of the key holiday shopping season, citing “dramatically decelerating U.S. e-commerce growth.”
Fourth-quarter sales will be $4.5 billion to $4.6 billion, the operator of the largest online marketplace said in a statement yesterday. Analysts on average were projecting revenue of $4.64 billion, according to data compiled by Bloomberg. EBay forecast profit excluding some items of 79 cents to 81 cents a share for the period, below analysts’ prediction of 83 cents.