EBay Raises Outlook Despite Higher Depop Acquisition Cost
On Wednesday, eBay updated its full-year projections following second-quarter results that surpassed analysts' predictions in terms of revenue and earnings. The recent acquisition of the fashion resale site Depop was finalized at a price exceeding the initial announcement, which affected expenses. Nonetheless, eBay's robust performance during the quarter prompted a more optimistic outlook for the remainder of the year.
Key facts
- EBay raised its full-year outlook on Wednesday.
- Second-quarter revenue and earnings topped analyst expectations.
- Acquisition of Depop closed at a higher price than originally announced.
- Depop is a fashion resale platform.
- The acquisition impacted costs.
- EBay's quarterly performance was strong.
- The outlook improvement follows the quarterly results.
- The announcement was made on Wednesday.
Entities
Institutions
- eBay
- Depop
Sources
- Quartz —