When earlier that year John Donahoe was named eBay CEO, succeeding Meg Whitman, he indicated that planned changes would inflict some pain in the short term. He wasn’t kidding. Figures released July 16 suggested that so far, Donahoe’s changes, aimed at reviving growth, have done little to reverse a market share loss to rivals such as Amazon.com.

For the second quarter, eBay reported profits of $460 million, or 35 percent a diluted share, on $2.2 billion in revenue. Those

numbers exceeded analysts’ average expectations.

Too Many Changes for Sellers

But the pace of growth continued to decline in eBay’s core shopping business. The total value of goods sold on eBay’s site grew just 4 percent, excluding the benefit of foreign exchange, down four percentage points from the first quarter. Its shopping business grew 13 percent annually, down two percentage points from the prior quarter. Revenue from fees charged when […]

Orginal post by Top Tech News