EBay forecasts quarterly revenue below expectations on weak demand
eBay forecast first-quarter revenue below Wall Street estimates on Wednesday, as economic uncertainty compelled unaffluent buyers to cut discretionary spending, sending its shares down nearly 9% in extended trading.
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High interest rates and persistent inflation have hampered consumer spending for two years, leading to sluggish demand for non-essential items.
«We are continuing to operate in quite a challenging macro environment, particularly in Europe, and now, more recently, we're facing the uncertainty around U.S. tariffs and de minimis changes,» chief financial officer Steve Priest in a post-earnings call.
Former US president Joe Biden's administration had said in September that it was moving to curb low-value shipments entering the U.S. duty-free under the $800 «de minimis» threshold, that has been exploited by firms such as Shein and Temu.
Earlier this month, President Donald Trump imposed an additional 10% tariff on Chinese imports, affecting industries from autos to consumer goods, but paused a 25% levy on Canada and Mexico for 30 days.
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