EBay Falls After Holiday Revenue Outlook Misses Estimates
- Company continues to lose shoppers to rivals Amazon, Walmart
- Ad revenue during third quarter narrowly missed estimates
Earnings per share will be $1 to $1.05 on revenue of $2.47 billion to $2.53 billion in the period ending in December,
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EBay Inc. issued a bleak revenue outlook for the busy holiday quarter, suggesting the company continues to struggle as it loses shoppers to larger rivals such as Amazon.com Inc. and Walmart Inc.
Earnings per share will be $1 to $1.05 on revenue of $2.47 billion to $2.53 billion in the period ending in December, the company said in a statement Tuesday. Analysts, on average, estimated profit of $1.05 per share on sales of $2.6 billion.