• Wednesday, November 29, 2023
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EBay sets aggressive 2015 target, shares climb


eBay Inc aims to handle $110 billion of sales on its marketplace in 2015 by expanding globally and using mobile technology to lure more shoppers, an aggressive target that drove its shares 4 percent higher last week. The forecast by eBay Marketplaces chief Devin Wenig was higher than Wall Street had expected and represents a 47 percent jump in gross merchandise volume, or GMV, from 2012’s $75 billion. GMV is a closely watched measure of eBay’s performance. Doug Anmuth, an analyst at JP Morgan, had predicted 2015 GMV of $101 billion. After bleeding market share to Amazon.com Inc for years, Chief Executive John Donahoe began a turnaround effort in 2009 that set the Internet commerce firm back on track by borrowing from its larger rival’s playbook.