(News Bulletin 247) – eBay unveiled last night forecasts below analysts’ expectations, which resulted in a fall of more than 6% in the action of the online auction site this Thursday on the New York Stock Exchange .

For the current quarter, the San José (California) group said it expects revenue of between $2.46 billion and $2.50 billion and earnings per share (EPS) ranging from 1.05 to 1, 09 dollar.

For comparison, analysts have so far expected respectively 2.40 billion dollars in sales for an EPS of 1.06 dollars.

“The indications given for 2023 are worse than expected due to the persistence of economic difficulties”, react this morning the analysts of Mizuho Americas.

In the fourth quarter of 2022, revenue contracted by 4% on a reported basis to $2.5 billion, including a decline of 1% at constant exchange rates.

Excluding exceptional items, adjusted net earnings per share stood at $1.07 over the period, while the consensus was for $1.07.

Credit Suisse analysts maintained their ‘outperform’ rating and $55 price target following the release.

‘eBay is on track to achieve the forecasts delivered during its last day of analysts, which notably foresee a doubling of the turnover of advertising activities by 2025’, recalls the research department.

Listed on the Nasdaq, the action eBay dropped 6.5% Thursday in the first exchanges following this publication.

Copyright (c) 2023 News Bulletin 247. All rights reserved.