eBay: In Stagnation Mode

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About: eBay Inc. (EBAY)
by: Gary Alexander
This article is exclusive for subscribers.
Gary Alexander
Software, internet, media, IPOs
Summary

eBay's second-quarter earnings report fell heavily short of analyst expectations, with revenue growth dimming to 9% y/y (from 12% y/y last quarter).

The company's below-consensus guidance caused the stock to take its biggest hit.

GMV growth in the U.S. also showed its weakest growth rate since a year ago, while the volume of sold items stayed flat.

Margins also showed a worrying contraction.

Despite all the signals that keep pointing to its demise, eBay (EBAY), the one-time e-commerce wunderkind, continues to plod forward as if it was still a giant of the internet. Like last quarter's