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EBay shrinks 2014 sales forecast amid gloomy holiday expectations

US and China data suggest retail in for bumpy Q4 ride

IT Business, Financial news, EBay Incorporated

EBay Inc adjusted its full-year revenue projections to a bleaker outlook for the holiday season, amid plans to spin off its payments acquisition, PayPal, Reuters reported.

The revised estimates coincide with gloomy economic data from the US and China that suggest a renewed global slowdown.

EBay announced earlier this month that it would separate from PayPal next year.

The company slashed its full year revenue forecast to between $17.85bn and $17.95bn from its previous projection of $18bn to $18.3bn.

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