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 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, Slot Mudah Menang editing by Gwladys Fouche)