eBay trims 2014 revenue outlook amid economic fears


EBay trimmed its full-year revenue forecast, signaling a weaker-than-expected holiday shopping season for the e-commerce company as it prepares to split from its fast-growing payments arm, PayPal.

EBay’s report comes as weak economic data from the United States and China fan fears of a global slowdown, forcing investors to re-examine the world economy only just emerging from one of the worst recessions in history.

“We’ve gotten indications from some luxury retailers over the last couple of days that times have been more challenging,” said Scott Kessler, equity analyst at S&P Capital IQ.

“There are a lot of question marks when it comes to the sentiment on spending of consumers as we approach the holiday shopping season.”

EBay shares fell more than 3% in after-hours trading.

Read More

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: