EBay revenue misses as a weak US sporting season hits StubHub 

EBay lowered its full-year revenue forecast to between $10.75 billion and $10.85 billion, from $10.9 billion to $11.1 billion earlier. Analysts were expecting revenue of $10.95 billion, according to Thomson Reuters I/B/E/S.

Third-quarter revenue is also expected to be between $2.64 billion and $2.69 billion, missing Wall Street estimates of $2.73 billion.

EBay has been splurging on advertising brands available on its platform and on developing a more user-friendly format to better compete with the likes of Amazon.com, but saw its efforts overshadowed by weak StubHub growth.

The online retailer is banking on initiatives like grouped listings, a way for buyers to find the items they are searching for faster, and a simplified payment process to help lure more online shoppers.

The San Jose, California-based company had 175 million active buyers globally in the second quarter, compared to 171 million active buyers in the first quarter.

The company’s gross merchandise volume (GMV), the value of goods sold on its websites, rose 10.4 percent to $23.63 billion.

Excluding items, the company earned 53 cents per share in the second quarter ended June 30. Revenue rose about 9 percent to $2.64 billion.

Analysts on average had expected the company to earn 51 cents per share on revenue of $2.66 billion.

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