💨 Abstract

eBay, an e-commerce company, has predicted lower-than-expected first-quarter revenue due to weak demand for non-essential items like collectibles and refurbished goods. This is attributed to two years of high interest rates and inflation impacting U.S. consumer spending. The company also faces decreasing advertising revenue and increased marketing investments, leading to sluggish profit growth. The forecasted adjusted earnings are between $1.32 and $1.36

Courtesy: theprint.in

Summarized by Einstein Beta 🤖