EBay forecast third-quarter profit below market expectations on Thursday as the e-commerce platform spent more to bolster categories such as auto parts, refurbished goods and collectibles, sending its shares down 4.5% after the bell.
The eBay logo is pictured on a phone screen in this photo illustration July 23, 2019. REUTERS/Brendan McDermid/Illustration/File Photoforecast third-quarter profit below market expectations on Thursday as the e-commerce platform spent more to bolster categories such as auto parts, refurbished goods and collectibles, sending its shares down 4.5% after the bell.
To attract more Gen Z buyers, it also launched its streetwear vertical in June as an add-on to its sneakers category. The company forecast third-quarter profit to be between 96 cents and $1.01 per share, compared to analysts' estimates of $1.02, according to Refinitiv data.
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