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Sales go bye-bye at eBay

By
Post Staff Report
Published Oct. 18, 2012, 4:00 a.m. ET

Sales doldrums hitting eBay in the critical months before the holidays are taking a toll on its revenue forecast.

The world’s largest online marketplace forecast fourth-quarter revenue that may miss some analysts’ estimates as sales growth slows.

Revenue in the current quarter will be $3.85 billion to $4 billion, eBay said, compared with an average analyst projection of $3.94 billion. The company forecast profit excluding some items of 66 cents to 69 cents a share, versus a 68-cent estimate.

Comparable sales rose 21 percent in September, less than August’s 24 percent growth, ChannelAdvisor said earlier this month.

“EBay continues to lose market share to Amazon and other large online retailers,” said Brian Walker, an analyst at Forrester Research.

Shares were off 26 cents to $47.93 in after-hours trading.