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eBay profit beats analysts' estimates; company mulls asset sale [Business News Network (BNN) Energy & Resources (Canada)]
Last ebay inc. earnings: 4/29 04:15 pm
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US:NASDAQ Investor Relations: investors.ebayinc.com
eBay profit beats analysts' estimates; company mulls asset sale EBay Inc. profit topped analysts’ estimates in the face of slowing sales growth, showing the company can extract more from its millions of loyal buyers and sellers even if it struggles to attract many new customers. The company also bowed to pressure from activist investors, saying it is reviewing the role and value of its StubHub and Classifieds businesses "to determine the best path forward to maximize shareholder value." EBay shares rose almost 6 per cent in extended trading on Wednesday, after closing in New York at US$39.03. "The idea that management is open to explore a sale of StubHub caught the market’s attention," said RJ Hottovy, an equity analyst at Morningstar Inc. "They still have things to solve with their online marketplace business." EBay Chief Executive Officer Devin Wenig has struggled to jump start growth since he took the helm in 2015 following a split with PayPal Holdings Inc. Activist investors Ellio
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