eBay Predicts Higher Quarterly Revenue Driven by Collectibles & Luxury Goods
eBay's Financial Performance and Strategic Focus
Revenue Forecast Surpasses Expectations
Aug 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.
Focus on Enthusiast Buyers and Key Categories
Specialist Services and Focus Categories
The company has sharpened its focus on enthusiast buyers through "focus categories" where buyers value selection and specialist services. These include trading cards and other collectibles, auto parts and accessories and refurbished electronics.
Quarterly Results and Key Metrics
Revenue and Analyst Estimates
The online retailer forecast revenue to be between $3.07 billion and $3.12 billion for the quarter, compared with analysts' average estimate of $2.97 billion, according to data compiled LSEG.
Gross Merchandise Volume
Growth in Platform Sales
Gross merchandise volume, a key industry metric measuring the total value of all goods sold on the platform, rose 15% to $22.4 billion for the quarter ended June 30.
Revenue Beats Expectations
Revenue of $3.13 billion beat analysts' estimate of $3.02 billion.
GameStop Bid and eBay's Response
EBay in May rebuffed GameStop's roughly $56 billion unsolicited bid as "neither credible nor attractive", but GameStop CEO Ryan Cohen has said he plans to continue pursuing a combination.
(Reporting by Juby Babu in Mexico City; Editing by Sriraj Kalluvila and Shilpi Majumdar)
