eBay's profits beat analysts' estimates, but forecasts for the next three months are less positive than expected. This is revealed by the accounts of the giant of online auctions which published the results for the third quarter of the year yesterday after the market was closed. eBay reported earnings of $689 million, or 53 cents a share, up from $597 million in the same period last year, but lower than the 63 cents a share estimated by analysts.
As regards turnover, the American group reached 3,89 billion dollars, 14% more than last year but substantially in line with market expectations. Sore note the outlook for the current quarter: eBay expects revenues between 4,5 billion and 4,6 billion dollars and profits between 79 and 81 cents per share, less than the expected 4,64 billion dollars in revenues and the 83 cents a share in earnings for the last three months of the year.
Although the results have missed the estimates, the CEO John Donahoe spoke of a good performance and an increase in users accessing the site through mobile devices. Following the release of the accounts, eBay stock, which had finished down 0,83%, ended up losing more than 4,5%.
