Feb 18 (Reuters) – EBay Inc forecast first-quarter revenue above Wall Street estimates on Wednesday, signaling that its focus on specialty categories like luxury goods and auto parts is helping it navigate a challenging e-commerce market.
Shares of the San Jose, California-based company rose 3.5% in extended trading, after gaining over 40% last year.
The company expects first-quarter revenue in the range of $3 billion to $3.05 billion, compared with analysts’ average estimate of $2.80 billion, according to data compiled by LSEG.
The e-commerce company separately said it would buy consumer-to-consumer fashion marketplace Depop from Etsy for nearly $1.2 billion in cash.
(Reporting by Juby Babu in Mexico City; Editing by Maju Samuel)
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