EBay’s third-quarter forecast misses estimates

EBay Inc forecast third-quarter profit below analysts’ estimates on Wednesday as efforts to revamp its e-commerce platforms failed to impress investors.

Shares of eBay were down 2 percent at $37.21 in after-hours trading. The company forecast third-quarter adjusted profit of 54 cents-56 cents per share and revenue of $2.64 billion to $2.69 billion. Analysts on average were expecting a profit of 56 cents per share and revenue of $2.66 billion, according to Thomson Reuters I/B/E/S. The company also lowered its full-year revenue forecast to between $10.75 billion and $10.85 billion from $10.9 billion and $11.1 billion previously.

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