E-commerce firm eBay said on Wednesday that its Chief Financial Officer Steve Priest will step down in May and will be replaced by Peggy Alford, who was a vice president at PayPal.
EBay forecast second-quarter revenue above estimates and also beat market expectations for quarterly revenue, but cautioned that it is not immune to the increased cost from tariffs and the friction associated with U.S. President Donald Trump’s trade policy.
“We continue to navigate an uneven demand environment, with shopping activity more muted in February and improving in March,” Priest said on a post-earnings call with analysts.
Focusing on luxury and collectible goods as well as refurbished products has helped the e-commerce firm drive sales at a time when consumer spending has moderated due to high inflation.
The company’s emphasis on its focus categories and geo-specific investments is driving momentum, CEO Jamie Iannone said in a statement.
EBay’s use of generative AI, including its “magical” listing tool, and improvements in search and targeted advertising are helping simplify both selling and buying for the platform’s users.
“Despite macro uncertainty and recent trade policy changes, we view the guidance as solid and expect continued momentum in GMV and advertising,” said Arun Sundaram, senior equity analyst at CFRA Research.
EBay expects revenue in the range of $2.59 billion to $2.66 billion for the second quarter, with the midpoint coming above the analysts’ average estimate of $2.60 billion, according to data compiled by LSEG.
It reported first-quarter revenue of $2.59 billion, compared to analysts’ average estimate of $2.55 billion.
Gross merchandise volume, a key industry metric that denotes the total value of goods and services sold on the marketplace, rose 1 per cent to $18.8 billion for the quarter ended March 31.
Adjusted earnings per share of $1.38 came in higher than the average estimate of $1.34.
