eBay Needs Some Changes to Compete With Amazon
eBay (NASDAQ: EBAY) provided an updated outlook for its full-year operating results alongside its third-quarter earnings release, and investors did not like what management had to say.
In its first earnings report since the departure of former CEO Devin Wenig, eBay's fourth-quarter outlook came in below expectations. The company expects to generate $2.77 billion to $2.82 billion in revenue and $0.73 to $0.76 in earnings per share (EPS). Analysts were looking for $2.85 billion in revenue, on average, and $0.76 in EPS.
On the company's earnings call, interim CEO Scott Schenkel said, "For 2020 and beyond, change is needed to improve the underlying health of the Marketplace's business." That statement underlines the poor gross merchandise volume (GMV) growth the company has seen in both the U.S. and international markets.
Source Fool.com
