April 29 (Reuters) – EBay on Wednesday forecast second-quarter revenue above Wall Street estimates, signaling that the e-commerce marketplace’s focus on luxury and refurbished goods is helping attract shoppers despite a challenging economic backdrop.
The company’s strategy to pivot away from low-value, high-volume items is gaining traction. EBay has been focusing on “enthusiast” buyers in categories like luxury watches, handbags, sneakers and refurbished electronics.
In February, eBay announced the acquisition of Depop for nearly $1.2 billion, to expand its presence in the pre-used fashion category.
The company expects quarterly revenue in the range of $2.97 billion to $3.03 billion, compared with analysts’ average estimate of $2.97 billion, according to data compiled by LSEG.
(Reporting by Juby Babu in Mexico City; Editing by Sahal Muhammed)
