July 22, 2016
eBay experienced a second consecutive positive quarter, indicating that its split from PayPal continues to be beneficial for the e-commerce company. eBay’s annual forecast revenue is between $8.85 and $8.95 billion.
Chief Financial Officer Scott F. Schenkel pointed to the boosted U.K exports and said that, “we have yet to see the impact of an economic slowdown on the U.K. domestic marketplace.” With this insight, investors will be keen to invest in eBay because it represents another “Brexit-proof” stock, like that of IBM, which also reported it was unaffected by Brexit.
It is important to note that eBay experienced lower U.S. imports to Britain, but the slowdown isn’t causing noticeable harm to the company’s bottom line.
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