August 9, 2005
eBay's listings in the third quarter indicate continued strength
on a year-over-year basis. Goldman Sachs maintained an "outperform"
rating on the eBay, the largest online auction company.
For the period July 1 through Aug. 7, eBay reported listings of 175.8 million, up 28.9% year-over-year, and down 5.3% sequentially.
"We do not expect the year-over-year growth rates to continue to accelerate further in the coming weeks," Goldman said. For the full third quarter, the research firm estimates a 24.1% year-over-year listings increase and a 1.8% sequential decline.
EBay's strongest area of growth so far this quarter is in international listings, which are up 43.4% year-over-year, versus domestic growth of 17.3%, according to Goldman. The research firm reiterated fiscal 2005 and 2006 earnings-per-share estimates for eBay of 83 cents and $1.03, respectively.
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