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Price-conscious customers turned to eBay, which since 2020 has focused on selling secondhand goods as well as new sneakers, handbags and collectibles like trading cards such as for baseball.
Still, Ebay faces tough competition from larger online retailers including Amazon.com (NASDAQ:AMZN) and Shopify (NYSE:SHOP).
Gross merchandise value, a key industry metric that denotes the total value of goods and services sold on the marketplace, fell 2%, to $18.2 billion in the second quarter.
The company forecast third-quarter revenue in the range of $2.46 billion and $2.52 billion, compared to analysts’ average estimates of $2.47 billion, according to Refinitiv data.
Revenue in the quarter ended June 30 was $2.54 billion, compared to expectations of $2.51 billion.
