By Kathryn Hardison

 

Online marketplace eBay Inc. swung to a loss in its second quarter on lower sales and fewer active buyers during the period.

The company posted a loss of $531 million, or 95 cents a share, compared with a year-earlier profit of $10.73 billion, or $15.68 a share. Adjusted earnings were 99 cents a share. Analysts polled by FactSet had expected 66 cents a share and adjusted earnings of 89 cents a share.

Revenue fell to $2.4 billion, down from $2.67 billion a year ago. Analysts were expecting $2.37 billion.

Gross merchandise volume for the quarter was $18.5 billion, down 18%.

EBay said it saw 138 million active buyers for the period, down from 156 million active buyers a year ago.

 

Write to Kathryn Hardison at kathryn.hardison@wsj.com

 

(END) Dow Jones Newswires

August 03, 2022 16:38 ET (20:38 GMT)

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