On Wednesday, eBay forecast current-quarter revenue above Wall Street estimates, as the e-commerce company benefited from an increase in online orders with people staying indoors due to the COVID-19 pandemic.
The coronavirus pandemic has forced millions of Americans to remain indoors, resulting in an enormous increase in online shopping using services like eBay and Amazon.
The company said it is projecting second-quarter sales from $2.38 billion to $2.48 billion, while analysts were expecting $2.32 billion, according to Refinitiv’s IBES data.
eBay, which has worked to make its platform simpler to use through grouped listings and personal recommendations, said active customers in the first quarter rose by 2 percent to 174 million.
Revenue in the first quarter fell 2 percent to $2.37 billion, but was above the average estimate of $2.32 billion by analysts, according to Refinitiv’s IBES data.
The company also earned 77 cents per share on an adjusted basis, beating estimates from analysts of 72 cents.
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