Pakistanis angry over detentions in Times Sq. case Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They
AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e
BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German
Minister seeks closure of anti-Berlusconi websites Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who
By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an
My Profile
Top News
Reuters top ten news stories delivered to your inbox each day.
Subscribe
You are here:
Home
>
News
>
Technology
>
Article
Home
Business & Finance
News
U.S.
Politics
International
Technology
Internet
Entertainment
Sports
Lifestyle
Oddly Enough
Environment
Health
Science
Special Coverage
Video
Pictures
Your View
The Great Debate
Blogs
Weather
Reader Feedback
Do More With Reuters
RSS
Widgets
Mobile
Podcasts
Newsletters
Your View
Make Reuters My Homepage
Partner Services
CareerBuilder
Affiliate Network
Professional Products
Support (Customer Zone)
Reuters Media
Financial Products
About Thomson Reuters
eBay zeroes in on PayPal in much-needed overhaul
Wed Mar 11, 2009 8:44pm EDT
Email | Print |
Share
| Reprints | Single Page
[-]
Text
[+]
By Alexandria Sage
SAN JOSE, California (Reuters) - EBay Inc, fending off worries that its best days are over, hopes to transform itself by galvanizing growth at its PayPal payments system and jump-starting its lagging core business, top executives said on Wednesday.
Best known as the Internet's premier auction site, eBay expects its burgeoning PayPal division to spearhead growth in global revenues to $10-12 billion and underpin sedate -- but steady -- single-percentage annual earnings growth by 2011.
To get there, Chief Executive John Donahoe vowed to pursue "ruthless" change in its marketplaces business that began with auctions but now encompasses fixed-price sales and even classified ads.
Donahoe told Reuters in an interview that eBay had befuddled Wall Street in recent years by forging a three-pronged business -- eBay, PayPal and Web-based telephone company Skype -- with less emphasis on its once-preeminent auctions.
"EBay was the big leader out of the gates, but we're going through a change," Donahoe said. "Every leader in every business has to go through periods of change."
But skeptical analysts said eBay signaled few dramatic shifts on Wednesday at its core marketplaces unit beyond ongoing efforts to capture more sellers and buyers and regain the market share relinquished to rivals, especially online retailer Amazon.com.
The San Jose-based online giant, which did not provide a full-year outlook in January [ID:nLM73754], said adjusted earnings per share would grow in the mid-single digits on a percentage basis from 2009 to 2011. [ID:nWNAB3042]
EBay can also save $2 billion over 3 years by trimming processing costs, enhancing online customer support to avoid resource-wasting processes, and more targeted marketing, Chief Financial Officer Bob Swan said.
Within two years, marketplaces should see $5 billion to $7 billion in revenue, eBay said, spurred by search, catalog and platform improvements. That compares with 2008's $5.6 billion.
Still, Collins Stewart analyst Sandeep Aggarwal said Wall Street wanted "more tangible evidence of sustained recovery."
"There is nothing new they gave us to make us feel more positive," Aggarwal said.
THE TIMES, THEY ARE A-CHANGING
Ebay executives were rather more sanguine.
"The eBay you knew is not the eBay we are, or the eBay we will become," Donahoe told analysts, opening the presentation.
EBay pushed its fast-growing PayPal unit into the spotlight, saying it expects that business to double by 2011. Continued...
View article on single page
Share:
Del.icio.us
Digg
Mixx
Yahoo!
Facebook
LinkedIn
Next Article:
Google turns voicemail to email
Also On Reuters
Hurt globally, al Qaeda bets on South Asia turmoil
Madoff mysteries remain as he nears guilty plea
Google to target ads based on online activity
More Technology News
Google turns voicemail to email
Apple rolls out talking iPod Shuffle
Engineers find way to build a better battery
Google turns voicemail to email
Intel's Barret worried about U.S. deficit
More Technology News...
Editor's Choice
Reuters.com is making changes to help you understand the global economic crisis. Blog
Most Popular on Reuters
Articles
Video
Man with grudge kills 10 in Alabama shooting spree | Video
World's richest not so rich, Gates regains top spot
Google turns voicemail to email
Q+A: What is behind the political turmoil in Pakistan?
Museum finds "secret" message in Lincoln's watch
U.S. foreclosure filings rise in February | Video
Apple rolls out talking iPod Shuffle
45 percent of world's wealth destroyed: Blackstone CEO
Japan mired in recession, no sign of quick recovery
"Big Love" network apologizes to Mormons
Most Popular Articles RSS Feed
Video
High seas diplomacy
The German school shooter
Alabama shooting rampage
Grenade attack at Kiev rail station
Obama: Optimistic about G20
Facing the Taliban
Deadly multiple shooting in Alabama
Talk of the Town: Rihanna and Brown
Naughty chimp's human ways
Reality tv star's cancer ordeal
Most Popular Videos RSS Feed
The Great Debate
Facebook's privacy snag
Eric Auchard
Social networking phenomenon Facebook has beaten out arch-rival and former market leader MySpace by most measures, except the one that pays the bills. Commentary
Follow The Great Debate on Twitter @reutersgr8db8
Reuters Deals
The global destination for corporate leaders, deal-makers and innovators
Knowledge to Act
Reuters.com:
Help and Contact Us |
Advertise With Us |
Mobile |
Newsletters |
RSS |
Interactive TV |
Labs |
Reuters in Second Life |
Archive |
Site Index |
Video Index
Thomson Reuters Corporate:
Copyright |
Disclaimer |
Privacy |
Professional Products |
Professional Products Support |
About Thomson Reuters |
Careers
International Editions:
Africa |
Arabic |
Argentina |
Brazil |
Canada |
China |
France |
Germany |
India |
Italy |
Japan |
Latin America |
Mexico |
Russia |
Spain |
United Kingdom |
United States
Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests.
NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.