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(Bloomberg) -- EBay Inc. projected sales that topped analysts’ estimates, suggesting the company expects continued consumer resilience to shifting US tariff proposals.
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Revenue will be $2.69 billion to $2.74 billion in the period ending in September, the company said Wednesday in a statement. Profit, excluding some items, will be $1.29 to $1.34 a share. Analysts, on average, estimated sales of $2.65 billion and per-share earnings of $1.31, according to data compiled by Bloomberg.
Investors have been seeking clues about how consumers are reacting to President Donald Trump’s trade war, which is expected to fuel inflation. EBay has seen the sale of used and refurbished goods grow faster than other categories with shoppers are eager to save money.
“Our momentum reflects the strength of our strategic execution and the resilience of our marketplace,” Chief Executive Officer Jamie Iannone said in the statement.
The shares gained about 6% in extended trading after closing at $77.56 in New York. The stock has increased 25% this year, compared with a 8.2% gain in the S&P 500.
Second-quarter profit, excluding some items, was $1.37 a share. Revenue increased 6% to $2.73 billion. Analysts, on average, estimated $1.30 per share on sales of $2.64 billion.
Gross merchandise volume, the value of all goods sold on eBay, rose 6% to $19.5 billion during the second quarter, topping the average estimate of $18.9 billion. The company said it had 134 million active buyers as of June 30, in line with estimates.
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