SAN JOSE, Calif., Oct. 1, 2020 /PRNewswire/ -- During the third
quarter of 2020, eBay Inc. (Nasdaq: EBAY) announced that it had
entered into a definitive agreement to transfer its Classifieds
business to Adevinta and determined that it met the criteria for
the classification of held-for-sale accounting and discontinued
operations. Accordingly, Classifieds' financial results will be
reflected in eBay's condensed consolidated financial statements as
discontinued operations beginning in the third quarter of 2020.
Please refer to the 8-K filed today for a restatement of historical
financial results.
Cautions Regarding Forward Looking Statements
Certain statements herein are "forward-looking statements"
within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Exchange Act. Such forward-looking
statements are often identified by words such as "anticipate,"
"approximate," "believe," "commit," "continue," "could,"
"estimate," "expect," "hope," "intend," "may," "outlook," "plan,"
"project," "potential," "should," "would," "will" and other similar
words or expressions. Such forward-looking statements reflect
eBay's current expectations or beliefs concerning future events and
actual events may differ materially from historical results or
current expectations. The reader is cautioned not to place undue
reliance on these forward-looking statements, which are not a
guarantee of future performance and are subject to a number of
uncertainties, risks, assumptions and other factors, many of which
are outside the control of eBay. The forward-looking statements in
this document address a variety of subjects including, for example,
the closing of the transaction pursuant to which eBay will transfer
certain subsidiaries which operate its Classifieds business (the
"Transaction") and the potential benefits of the Transaction. The
following factors, among others, could cause actual results to
differ materially from those described in these forward-looking
statements: the possibility that regulatory and other approvals and
conditions to the Transaction are not received or satisfied on a
timely basis or at all; the possibility that eBay may not fully
realize the projected benefits of the Transaction; changes in the
anticipated timing for closing the Transaction; business disruption
during the pendency of or following the Transaction; diversion of
management time on Transaction-related issues; the reaction of
customers and other persons to the Transaction; and other events
that could adversely impact the completion of the Transaction,
including the ongoing COVID-19 pandemic and other industry or
economic conditions outside of our control. In addition, actual
results are subject to other risks and uncertainties that relate
more broadly to eBay's overall business, including those more fully
described in eBay's filings with the Securities and Exchange
Commission ("SEC"), including its annual report on Form 10-K for
the fiscal year ended December 31,
2019 and subsequent quarterly reports on Form 10-Q. The
forward-looking statements in this document speak only as of this
date. We undertake no obligation to revise or update publicly any
forward-looking statement, except as required by law.
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SOURCE eBay Inc.