EBay forecasts upbeat quarterly revenue as high-value categories drive momentum

EBay forecast third-quarter revenue above Wall Street estimates on Wednesday, leaning on its push into authenticated luxury goods, collectibles and refurbished products to bring more high-value buyers to its online marketplace.

The company forecast third-quarter revenue to be between $3.07 billion and $3.12 billion, compared with analysts' estimate of $2.97 billion.

The online retailer's shares, up more than 25% this year, were trading 1% higher after the bell.

EBay has doubled down on its "focus categories", targeting enthusiast buyers who value selection and specialist services, a strategy that sets it apart from rivals.

The $1.4 billion acquisition of fashion resale platform Depop is also providing a lift, expanding the company's reach among younger consumers and strengthening its position in the growing re-commerce market.

"Focus categories, consumer-to-consumer and re-commerce, each grew 20% on the platform individually and collectively, representing 70% of gross merchandise volume," CEO Jamie Iannone said in an interview with Reuters.

Second-quarter revenue rose 15% to $3.13 billion, beating analysts' average estimate of $3.02 billion, according to data compiled by LSEG.

The results reflect strength that was "broad-based" with focus categories such as collectibles, motors, fashion and refurbished all contributing to growth, Chief Financial Officer Peggy Alford said during a post-earnings call.