Online classifieds firm Adevinta says short-term confidence rising…

OSLO, May 5 (Reuters) – Norway’s Adevinta reported a bigger-than-expected rise in first-quarter revenue on Wednesday and Sbobet Indonesia said the positive momentum it was currently experiencing was expected to continue for the rest of the year if new pandemic lockdowns are avoided.

January-to-March operating revenue at the online classifieds company rose to 182.1 million euros ($218.9 million) from 174.5 million a year ago, while analysts in a Refinitiv poll on average expected 178.8 million euros.

“We believe we are well placed after a full year of successfully manoeuvring through the crisis, therefore we are approaching the short term uncertainty with even more confidence,” Adevinta said in its first-quarter earnings report.

Unlike last year however, the company does not expect to receive any government subsidies related to the pandemic.

In the second quarter of last year, it received around 3 million euros in such payments.

Adevinta’s planned acquisition of eBay’s classified ads unit, valued at an estimated $9.2 billion in cash and shares, remains on track to close in the second quarter of 2021, the company said.

($1 = 0.8319 euros) (Reporting by Terje Solsvik, editing by Gwladys Fouche)

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