eBay posts lower-than-expected sales, profit forecastOctober 17, 2013 - 14:15 AMT PanARMENIAN.Net - The online auction and retail giant, eBay, has delivered a lower-than-expected sales and profit forecast for its fourth quarter, BBC News reports. Blaming slowing growth in online shopping rates in the U.S., the firm said it expected sales of between $4.5bn and $4.6bn for the holiday period. The quarter is a key shopping period for the firm. Ebay says it has seen weaker economic conditions in the United States. "U.S. e-commerce softened considerably and we have a cautious outlook for the holiday season," Chief Financial Officer Bob Swan told investors on a conference call. "We won't know until weeks from now, and I hope this deal sticks," eBay Chief Executive John Donahoe said when asked if the end of the conflict would lift mood of shoppers, according to Reuters. Ebay reported net income for the third quarter of $689m, up 15% on the same period last year. Sales rose 14% to $3.89bn, helped by growth in mobile trading on the eBay auction site. EBay said the environment in Europe and Asia was mostly stable. In July, the company said Europe was weighing on its results. The e-commerce company's third-quarter profit was boosted by its PayPal online payments business as consumers made greater use of its PayPal service. This summer, eBay expanded its eBay Now same-day delivery service into new markets and last month bought payments gateway Braintree for about $800 million to strengthen PayPal's presence on mobile devices. To compete with Amazon's Prime service, PayPal is offering for a limited time free two-day shipping for items paid for with that service. Related links: Top stories Yerevan will host the 2024 edition of the World Congress On Information Technology (WCIT). Rustam Badasyan said due to the lack of such regulation, the state budget is deprived of VAT revenues. Krisp’s smart noise suppression tech silences ambient sounds and isolates your voice for calls. Gurgen Khachatryan claimed that the "illegalities have been taking place in 2020." Partner news Most popular in the section | Titus, Bilirakis lead legislation to sanction Azerbaijani war criminals Representatives Dina Titus (D-NV) and Gus Bilirakis (R-FL) have introduced the bipartisan legislation. Azerbaijan must respect human rights, Scholz tells Aliyev German Chancellor Olaf Scholz has called for greater respect for human rights in Azerbaijan. Armenia: Defense Ministry warns against involving army in political processes The Ministry’s statement came after a video surfaced online, showing soldiers joining the protests in Tavush. Scholz hopes Armenia-Azerbaijan peace treaty will be signed this year German Chancellor Olaf Scholz hopes that a peace treaty between Armenia and Azerbaijan will be signed this year. |