EBay Forecasts Miss Some Estimates as Marketing Costs Rise
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EBay Inc., the largest online marketplace, forecast fourth-quarter sales and profit that missed some analysts’ estimates as the company’s efforts to woo developers and strengthen payment services erode profitability.
Revenue will be $3.2 billion to $3.35 billion, EBay said today in a statement. Excluding some costs, profit will be 55 cents to 58 cents a share. Analysts on average had projected sales of $3.3 billion and profit of 58 cents, according to data compiled by Bloomberg. EBay shares dropped 4.2 percent.