eBay Inc. Dec 08
Standard & Poors, December 2008
Abstract
Leading market positions in e-commerce and payment; Strong brand franchises; Geographically diverse, low fixed costs and working capital; Conservative financial policy; and Strong profitability, cash flow, and liquidity. Evolving e-commerce; Maturing auction segment and increasing seasonality; and Acquisitive. The rating on San Jose, Calif.-based eBay Inc. reflects its well-established brands in Internet e-commerce and payment segments, coupled with strong discretionary cash flow generation and ample liquidity. These factors are somewhat mitigated by a maturing auction business, an evolving internet marketplace with traditional brick and mortar retailers becoming more competitive, a challenging consumer spending and consumer credit environment, and a growth strategy that includes on-going acquisitions. Founded in 1995, eBay generated over $8.6 billion in revenue for the 12 months ended...
Companies mentioned in this report are: eBay Inc.
Action: Review
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Research Type: Full Analysis
eBay Inc.
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