eBay Beats Earnings Forecast but Stock slumps in After Hours Trading

eBay came in at $.46 a share versus estimates of $.41 but warned that growth will be slow
Although eBay came in ahead of estimates, the problem is that most of the profit growth came from non-eBay areas such as advertising and classifieds. eBay’s core business, auctions, is seeing slower growth and eBay execs said it may continue to be slow in the current economy.
That could be an understatement. The stock market had its worst day since Black Monday in October 1987. In after hours trading, eBay stock continued to fall.  Unless we have a stellar rebound in the market tomorrow like happened last week, I suspect eBay stock will continue to see pressure.

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