We saw this coming: Traffic to eBay (EBAY) has been falling sharply since last year, and revenue at eBay’s Marketplaces unit (just about everything but Paypal and Skype) has been falling along with it, down 16% y/y according to eBay’s earnings report.
Weakness at ebay.com dragged down total revenue to $2.04 billion, down 7% y/y and below consenus estaimates of $2.12 billion. Smaller units helped eBay hit EPS targets despite the shortfall: Payments (Paypal) earned $623 million in revenue, up 11% y/y, and Communications (Skype) pitched in $145 million, up 26%.
Shares in eBay were down 5% after hours.
Q4 Revenue: $2.04 billion, vs $2.12 billion consensus
Q4 EPS: $0.41, vs $0.39 consensus
Q1 Revenue guidance: $1.8 to $2.05 billion, vs $2.1 billion consensus
Q1 EPS guidance: $0.32 to $0.34, vs $0.40 consensus
See Also: eBay Traffic Plummeting
Business Insider Emails & Alerts
Site highlights each day to your inbox.