eBay Forecasts Higher Quarterly Revenue, Driven by Momentum in High-Value Categories
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((Automated translation by Reuters using machine learning and generative AI, please refer to the following disclaimer: https://bit.ly/rtrsauto)) * The company announces third-quarter revenue above Wall Street estimates * Second-quarter revenue grows 15% to $3.13 billion, exceeding forecasts * CFO believes these results reflect "overall good health" of the company (Adds details and management comments in paragraphs 5, 6 and 9) by Juby Babu eBay EBAY.O on Wednesday forecast third-quarter revenue above Wall Street estimates, building on its push into authenticated luxury goods, collectibles and refurbished products to attract more high-value buyers to its online marketplace. These results are the first published since the company rejected GameStop's ( GME.N ) unsolicited offer of approximately $56 billion, calling it "neither credible nor attractive." GameStop CEO Ryan Cohen, however, said he intended to continue his efforts toward a merger. eBay has redoubled its efforts on its "focus categories," targeting passionate buyers who value choice and specialized services, a strategy that sets it apart from its competitors. The $1.4 billion acquisition of fashion resale platform Depop also provides positive momentum, expanding the company's reach to younger consumers and strengthening its position in the growing "re-commerce" market. "Focus categories, consumer-to-consumer commerce...
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Extracted from this sentence
Second-quarter revenue grew 15% to $3.13 billion, exceeding analysts' average estimate of $3.02 billion, according to data compiled by LSEG.
