July 16, 2020 / 5:36 AM / a month ago

Adevinta sees online classifieds traffic return after COVID-19 hit

OSLO, July 16 (Reuters) - Online classifieds group Adevinta sees its performance picking up faster than expected after taking a hit from the COVID-19 pandemic, the Norwegian company said on Thursday.

"Our performance has significantly picked up in May and June and while macro uncertainty remains in the near term, we expect the second half of the year to continue on this recovery trend," the company said.

Second-quarter earnings before interest, tax, depreciation and amortisation (EBITDA) dropped 26% to 38.7 million euros ($44.14 million), excluding joint ventures, above the 26.2 million euros expected by five analysts in a Refinitiv poll. ($1 = 0.8768 euros) (Reporting by Victoria Klesty; Editing by Muralikumar Anantharaman)

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