EBay Falls After Giving Weak Profit Outlook for Holiday Period
EBay is trying to embrace increased demand for used and refurbished items from shoppers eager to save money.
Photographer: Gabby Jones/BloombergEBay Inc. gave a profit forecast for the fourth quarter that missed the average analyst estimate, stoking investor concerns about narrowing margins heading into the holiday shopping season.
Profit, excluding some items, will be $1.31 to $1.36 a share in the period ending in December, the company said Wednesday in a statement. Revenue will be $2.83 billion to $2.89 billion. Analysts, on average, estimated sales of $2.8 billion and per-share earnings of $1.39, according to Bloomberg-compiled data.