10-16-2008, 10:04 AM
eBay registered its first ever decline in quarterly GMV in Q3 with a drop of 1%. The company is forecasting its first ever quarterly revenue decline in Q4. The company blamed the economy rather than the boinktards in the top ranks of management for the disappointing forecast.
full article: http://www.latimes.com/technology/la-fi-...8677.story
full article: http://www.bloomberg.com/apps/news?pid=20601087&sid=aZMzcD1EQqEc&refer=home
Quote:The consumer spending slowdown that first hit EBay Inc. in mid-August could ruin its Christmas sales and drag on into 2009, the online auctioneer's executives said Wednesday, sending its shares down 3.5% in after-hours trading.
The tumble followed a drop of $2.41, or 13.6%, in the regular session to $15.33 as investors remained skeptical about EBay's efforts to counter stalled growth in its online auctions business and rising competition in the midst of a global economic slowdown.
The San Jose company reduced its 2008 revenue forecast and projected its first-ever quarterly sales decline to close the year...
full article: http://www.latimes.com/technology/la-fi-...8677.story
Quote:EBay's marketplaces revenue rose 4 percent to $1.38 billion in the third quarter. New marketplace listings climbed 26 percent from a year earlier, the fourth consecutive quarterly increase, EBay said.
The average selling price on EBay's Web sites fell 7 percent, as consumers globally were squeezed by higher fuel and food prices, job losses and the worst financial crisis since the Great Depression. They are buying ``fewer large ticket items,'' Donahoe said today. ..
full article: http://www.bloomberg.com/apps/news?pid=20601087&sid=aZMzcD1EQqEc&refer=home