EBay second-quarter forecast disappoints

EBay gave a disappointing earnings forecast for the second quarter and said Europe was weak, pushing its shares lower in after-hours trade.

The e-commerce company forecast a second-quarter profit of 61 to 63 cents per share and revenue of US$3.8 billion to US$3.9 billion (HK$29.50 billion to HK$30.3 billion).

Analysts were looking for 66 cents a share on revenue of US$3.95 billion, according to Thomson Reuters I/B/E/S.

Late last month, eBay set aggressive three-year growth targets, based on international expansion plans and more focus on mobile commerce.

via Business feed http://www.scmp.com/business/companies/article/1217347/ebay-second-quarter-forecast-disappoints