SAN FRANCISCO (AP) - THE OUTLOOK: EBay disappointed investors Wednesday with its fourth-quarter forecast. CEO John Donahoe said in a conference call with analysts that the company expects an “OK to solid” holiday season.
THE CONCERN: EBay has reported good holiday quarters for the past two years, even as the economy has been weak overall. Its expectations may indicate this holiday season won’t be great for retailers in general.
THE RESULTS: The operator of online marketplace eBay.com and online payment service PayPal also said third-quarter net income rose 14 percent, helped by people increasingly shopping and transferring funds with its mobile apps.
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