EBay Forecast Misses Estimates as Marketplace Growth Stalls
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EBay Inc.projected earnings that may miss analysts’ estimates as growth on its marketplace stalled, revealing that shoppers went elsewhere during a holiday season that saw online spending reach new heights. Shares fell as much as 11 percent in extended trading.
Profit, excluding certain items, will be 43 cents to 45 cents a share in the current quarter, EBay said Wednesday in a statement, compared with analysts’ estimates of 48 cents. Sales in the fourth quarter were $2.32 billion, unchanged from a year earlier, excluding PayPal Holdings Inc., which became a standalone company in July, EBay said.