EBay gives gloomy revenue forecast as boom fades

FILE - In this Oct. 17, 2012, file photo, an eBay sign sits in front of the company's headquarters in San Jose, Calif. On Wednesday, Sept. 23, 2020, federal prosecutors said four former eBay Inc. employees had agreed to plead guilty to their roles in a campaign of intimidation that included sending live spiders and cockroaches to the home of a Massachusetts couple who ran an online newsletter highly critical of the auction site. (AP Photo/Marcio Jose Sanchez, File)

CALIFORNIA: EBay Inc became the latest eCommerce retailer to give a gloomy revenue forecast as growth slows after two years of rapid expansion during the pandemic, sending its shares down 6% in extended trading.

The company projected second-quarter between US$2.35bil (RM10.2bil) and US$2.40bil (RM10.4bil), compared with the average analyst expectation of US$2.54bil (RM11bil), according to IBES data from Refinitiv.