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Ebay shares have collapsed after the disappointing forecast for the holiday quarter

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Ebay shares have collapsed after the disappointing forecast for the holiday quarter

Ebay shares have collapsed after the disappointing forecast for the holiday quarter
October 20
16:00 2016

Analysts are disappointed due to the EBay Inc Company’s forecast regarding the revenue and profit for the season of holiday shopping. The securities of the company have fallen by 8 per cent during over-the-counter trading.

Ebay’s competitors on the market are Amazon.com Inc and offline stores that are actively increasing their presence in the global network.

According to the company, the actual number of its active customers is equal to 165 million. It does not correspond to 166.5 million- the number, which was voiced in the analysts’ forecasts,- announced the firm FactSet StreetAccount, which conducted the study.

For the current quarter EBay Inc predicts revenue in the range from $ 2.36 to $ 2.41 billion. The company expects the adjusted profit from continuing operations to be equal to 52-54 cents per share.

Judging by the survey Thomson Reuters I / B / E / S, experts forecast the revenue of $ 2.40 billion and the profit, equal to 54 cents per share.

The revenue of the III quarter has soared by 5.6 percent and amounted to $ 2.22 billion. This amount has become more than analysts predicted ($ 2.19 billion).

There is a decrease in the net profit to $ 413 million (36 cents per security) for the quarter, which ended on September 30. During the corresponding period last year, the net income was $ 539 million (45 cents per share).

The company Ebay has gained 45 cents per share. The median forecast was equal to 44 cents.

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