Ebay’s shares have dipped two per cent in extended trading as it became the latest online retailer to show signs the pandemic-driven online boom is ending.
Ebay saw sales jump 14 per cent to $2.7 billion over the three months to June 30, beating consensus estimates of $2.63 billion, while earnings per share also topped analysts’ projections of 94 cents coming in at 99 cents ($675 million).
However, the online marketplace saw its active buyers dip by two per cent to 159 million year-on-year, while its gross merchandise volumes dropped seven per cent to $221 billion.