EBAY PROJECTS REVENUE THAT TOPS ESTIMATES

Ebay Inc. gave revenue and profit forecasts for the current period that topped analysts’ estimates, suggesting the company is gaining new customers amid an e-commerce boom. Shares jumped about 10 per cent in extended trading. Sales will be us$2.94 billion to us$2.99 billion in the first quarter, the San Jose, California-based company said Wednesday in a statement. earnings, excluding some items, will be us$1.03 to us$1.08 a share. Analysts estimated profit of 85 cents a share on sales of us$2.54 billion. Pandemic-wary shoppers have turned to online marketplaces like ebay and Amazon.com Inc. to avoid stores. ebay said it ended the quarter with 185 million active buyers, an increase of 7 per cent. The company has been divesting pieces under pressure from activist investors.