EBay Shares Fall on Weak Revenue Forecast For Current Quarter
eBay headquarters in San Jose, California.
Photographer: Justin Sullivan/Getty ImagesThis article is for subscribers only.
EBay Inc. declined after giving a weak forecast for the current quarter, reinforcing investor worries that the one-time pioneer continues to lose relevance in a maturing e-commerce market crowded with competitors.
EBay projected earnings of $1.10 to $1.15 a share on revenue of as much as $2.54 billion in the current period ending in June, the company said Wednesday in a statement. Analysts, on average, estimated profit of $1.14 per share on sales of $2.56 billion.