eBay Business Gets Affected Badly Owing to US Govt Shutdown
The US Government shutdown has quite a negative effect on eBay. It has been said so, as the company's shares have declined by 5.7%.
Not only this, some of the other things that have been unveiled are the industry growth rate has also reduced by 13% in the third quarter.
John Donahoe, CEO of the firm, was of the view that the government shutdown has impacted the moods of shoppers quite badly. They have no idea as whether the reopening of the government would be able to lift the moods of shoppers or not.
Since 2009, this year is considered to be the slowest holiday sales growth. The growth predictions made by experts are also not going to be fulfilled. Analysts have expected the growth rate to be around 4.64 billion dollars, but the firm has been expected the revenue to be between 4.5 billion dollars and 4.6 billion dollars.
"All of the anxiety we see when we pick up the newspaper every day makes us fairly cautious about how we look at the holiday season", affirmed CFO Swan. But Colin Sebastian, an analyst at R. W. Baird, has different take on the issue. He just wanted to affirm that discussing the condition of the US economy in such a manner is going to make things even worse.
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