eBay’s 4th Quarter Below Estimate
Piper Jaffray is surprisingly negative on eBay (NASDAQ:EBAY), saying their proprietary count of worldwide eBay listings suggests total Q4 listings of between 578M-590M. These results are between 8%-11% below their 639M listing estimate for the quarter and could potentially be sequentially down in the seasonally strongest quarter (listings were up sequentially 19% in 4Q05 and 17% in 4Q04). While listings were expected to be weaker than in previous years due to the changes to Store listings, with a second sequential quarterly decline, and listings below expectations, estimates are likely to come down.
eBay’s Q4 Listings Well Below Estimates – Jaffray – SeekingAlpha
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