(Bloomberg) — EBay Inc. declined after giving a weak forecast for the current quarter, reinforcing investor worries that the one-time pioneer continues to lose relevance in a maturing e-commerce market crowded with competitors.

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EBay projected earnings of $1.10 to $1.15 a share on revenue of as much as $2.54 billion in the current period ending in June, the company said Wednesday in a statement. Analysts, on average, estimated profit of $1.14 per share on sales of $2.56 billion.

Having lost significant US market share to Amazon.com Inc. and Walmart Inc. in recent years, eBay has focused on car parts, luxury goods and refurbished appliances to help it stand out in the fiercely contested e-commerce sector. The strategy has shown some promise, with those categories growing faster in recent quarters than the company’s online marketplace overall.

The shares fell about 5% in extended trading after closing at $51.06 in New York. The stock has increased about 17% this year.

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Gross merchandise volume, the value of all goods sold on eBay, increased 1% to $18.6 billion during the quarter, exceeding analysts’ average estimates of $18.4 billion. The San Jose, California-based company said it had 131 million active buyers in the quarter, unchanged from a year earlier.

First-quarter profit was $1.25 a share on sales of $2.56 billion. Analysts estimated $1.21 on sales of $2.53 billion.

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