Outlook optimistic: online shopping boom benefits eBay

Business is booming on Ebay during the corona pandemic. Sales in the second quarter increased by a whopping 18 percent compared to the previous year. Due to profit taking, the stock falls in after-hours trading.

The desire to shop online during the Corona curfews makes the online trading platform Ebay look more optimistically towards the year as a whole. The company has raised its forecast and now expects full-year net sales of between $ 10.56 billion and $ 10.75 billion. This corresponds to growth of twelve to 14 percent, said Ebay.

Ebay 48.69

In the third quarter, things are likely to go better than analysts expect. In the spring, marked by global curfews, sales rose from $ 2.42 billion to $ 2.87 billion a year earlier. Experts had expected $ 2.8 billion. The bottom line was that the company earned $ 740 million in the second quarter, 85 percent more than in the same period last year

Because shops were closed in the fight against the corona virus, all the more people shop online. EBay boss Jamie Iannone spoke of eight million new customers that had been added in the three months to the end of June. A week ago, Ebay closed the sale of its classifieds business to the Norwegian publisher Schibsted. The US corporation redeems $ 9.2 billion. The stock initially reacted with price gains after trading, but then turned negative due to profit taking, even though the figures were well above the forecasts.

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