Business Standard

EBay beats sales estimates for holiday quarter


(Reuters) - Ebay Inc beat Wall Street estimates for quarterly sales on Tuesday, as customers spent more in the holiday shopping season and a multi-year effort to make its platform more user friendly yielded results.
The company reported sales of $2.88 billion in the three months ended Dec. 31, up 6.3 percent from a year earlier and slightly higher than analysts' average expectation of $2.86 billion, according to IBES data from Refinitiv.
Net income from continuing operations was $763 million or 80 cents per share, compared with a loss of $2.6 billion or $2.51 per share, a year earlier, when it recorded a one-time tax-related expense of more than $3 billion.
(Reporting by Arjun Panchadar in Bengaluru; Editing by Bernard Orr)

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First Published: Jan 30 2019 | 3:10 AM IST

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