EBay forecasts first-quarter revenue above estimates
EBay posted revenue of $2.51 billion, compared to analysts' estimate of $2.47 billion.
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Feb 22 (Reuters) - Ecommerce company EBay Inc on Wednesday forecast first-quarter revenue above Wall Street estimates on hopes that cost-conscious shoppers would be attracted towards its used and refurbished product category in the face of a looming recession.
Shares of the San Jose, California- based company rose nearly 2% in trading after the bell.
Ebay's innovation, which includes a shift to expanded categories of collectibles, refurbished products as well as luxury goods such as watches, handbags and sneakers is helping it to drive sales at a time when economic uncertainty is weighing on most businesses. The company has also raised its game by investing in motors parts and accessories.
EBay posted revenue of $2.51 billion, compared to analysts' estimate of $2.47 billion, according to Refinitiv IBES data.
