eBay Worsening
January 25, 2009 by
Filed under News
Sramana Mitra submits:
Previous quarters’ doubts about eBay’s Q4 performance weren’t unfounded, as was evident in the company’s results that were announced on Wednesday. eBay’s (EBAY) CEO, John Donahoe, called himself “frustrated” with the previous year’s user experience and search improvement initiatives failing to translate to much higher revenue and GMV growth.
Q4 revenues of $2.04 billion were lower than the market’s expectations of $2.1 billion and were down 7% over the previous year. Its EPS of $0.41 also slipped by 9% from the previous year, though it managed to beat the Street’s expectations of $0.39. EPS recorded its first ever year-over-year decline.
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