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Ebay Gives Disappointing Sales Outlook

EBay has seen shares fall as much as 8 per cent after giving a less-than-stellar sales and profit outlook for the current quarter.

The e-commerce giants projected revenue between US$2.35 billion and US$2.40 billion for the June quarter, well under Wall Street expectations of US$2.54 billion.

The company saw its gross merchandise volume drop 20 per cent to US$19.4 billion during the first quarter of the year. This metric is often used by investors as a measure of overall performance.

Active buyers on eBay declined 13 per cent to 142 million in the first quarter, as revenue fell 6 per cent to US$2.48 billion. Despite this, it managed to beat Wall Street predictions

High inflation and a return to bricks and mortar stores is to blame for the modest forecast for the current quarter.

CEO Stephen Priest said on a post-earnings call that the war in Ukraine impacted e-commerce traffic in key markets Germany and the UK.

“Those negative impacts will continue through 2022,” he said.

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