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EBay forecasts upbeat quarterly revenue as high-value categories drive momentum
['Wed', 'August At Pm Gmt', 'Min Read']
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By Juby BabuAug 5 (Reuters) - EBay forecast third-quarter revenue above Wall Street estimates on Wednesday, leaning on its push into authenticated luxury goods, collectibles and refurbished products to bring more high-value buyers to its online marketplace.
EBay has doubled down on its "focus categories", targeting enthusiast buyers who value selection and specialist services, a strategy that sets it apart from rivals.
The company forecast third-quarter revenue to be between $3.07 billion and $3.12 billion, compared with analysts' estimate of $2.97 billion.
BROAD-BASED GAINSSecond-quarter revenue rose 15% to $3.13 billion, beating analysts' average estimate of $3.02 billion, according to data compiled by LSEG.
Including the Depop acquisition, eBay expects annual revenue growth of 11% to 12% on a foreign exchange-neutral basis, up from the 7% to 7.5% range it had projected in April, pending the deal's close.