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eBay Disaster: Sees Q4 Revs Below Q3; Plunge Continues
BARRONS.com: Tech Trader Daily —
There is sobering news this afternoon from online auction giant eBay.
For Q3, the company posted revenue of $2.12 billion, consistent with previous guidance of $2.1 billion to $2.15 billion. Non-GAAP profits of 46 cents a share were above its forecast of 39-41 cents, apparently due to a lower tax rate, which was 17% in the quarter, down from 22% in Q2, reflecting “changes in the estimated geographic mix of the company’s taxable income for the year.”
But the outlook was not good, not good at all.
For Q4, eBay sees revenue of ...
eBay Quarter Solid, But Outlook Awful
Silicon Alley Insider —
... The decent news: eBay did its job in Q3, hitting diminished expectations. Net revenue of $2.11 billion was at the low-end of previous forecasts, while non-GAAP earnings of $.46 per share exceeded estimates of $.41 share. ...
eBay's Q3 results first impressions...
eBay Strategies —
... Personally, I was impressed with this performance given some of the GMV slowness we saw on eBay and was wondering where the revenue+profits would come from to hit those numbers. Today eBay announced Q3 results here and the answer is what I had guessed (hint - it isn't GMV). ...
As eBay’s Core Business Hits Hard Times, Skype Begins To Shine
TechCrunch —
... Although eBay beat its downwardly-revised earnings numbers today, its earnings call was filled with glum news for investors. (Full earnings slides embedded below). After three flat quarters, revenues declined 3.6 percent from the second quarter to $2.2 billion. Free cash flow has been going down each of the last four quarters, and so has the total value of goods traded over the auction and e-commerce site. eBay is leaning much more heavily these days on merchant-dominated categories like autos than on auctions between ordinary people. ...
Investor Feedback for eBay: Awful Seller. Would Not Buy From Again. F-.
Digital Daily —
... The deepening recession is playing havoc with eBay’s now nine-month-old turnaround strategy. While the company beat Wall Street’s lowered expectations for its third quarter Wednesday, it also updated it’s guidance to better reflect “current business trends.” ...
Earnings: EBay Swings To Black For Q3 But Growth Is Oh So Slow
paidContent —
... to improve the buying and selling experience on its Web site. This included changes to clean up older listings and offer more items on a fixed-price basis, which has become a popular draw for competitors such as Amazon.com. But so far, the changes do not seem to have boosted the core business. The company said gross merchandise volume—the value of all goods sold over its auctions Web site—slipped by 1% during the quarter. GMV had grown by 14% in the previous third quarter."
Earnings release | Webcast | Slides ...
Investor Feedback for eBay: Awful Seller. Would Not Buy From Again. F-.
Digital Daily —
The deepening recession is playing havoc with eBay’s now nine-month-old turnaround strategy. While the company beat Wall Street’s lowered expectations for its third quarter Wednesday, it also updated it’s guidance to better reflect “current business trends.”
And “current business trends” being what they are, that guidance falls somewhere between lousy and repellent. In other words, eBay (EBAY) believes its full-year revenue will fall short. And with a 1 percent year-over-year drop in gross merchandise value–the total value of all goods sold on the site–during the quarter, ...
