QUARTERLY RESULTS
eBay sales rise fails to impress investors
The company’s sales growth continues to lag behind the e-commerce industry
Seattle — eBay Inc failed to sustain investor enthusiasm that its turnaround efforts were working, reporting sales growth that continued to lag behind the e-commerce industry and did not narrow the gap with giant Amazon.com. CEO Devin Wenig’s decisions to increase spending on marketing, redesign eBay’s homepage to personalise products for each visitor and make it easier for users to navigate the site’s 1-billion listings produced a sales gain of 3.7% in the first quarter, similar growth to the prior period. His goal, almost two years after the company split with PayPal Holdings, is to make eBay a go-to for unique items not found on Amazon. "They continue to struggle to show consistent results," said Josh Olson, an analyst at Edward Jones & Co. "Last quarter was promising and we’re back to uninspiring results this quarter. We’re back to inconsistency." Revenue in this quarter will be $2.28bn-$2.32bn, eBay said on Wednesday. Analysts on average estimated $2.32bn, according to data com...
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