Cyber attack impacts eBay's results | RetailDetail

Cyber attack impacts eBay's results

Cyber attack impacts eBay's results

At the revelation of its second quarter results, eBay CEO John Donahoe admitted that a cyber attack has had its impact on the sales platform's results.

"Focus now on recovery"

The majority of eBay's users were forced to change their password several months ago because of a hack and according to the CEO, that has had a negative effect on the second quarter sales. "The focus is now on recovery", Donahue said.

 

The results are nevertheless pretty much in line with forecasts as it reached a 4.37 billion dollar turnover (3.23 billion euro), 13 % higher than the previous year. Profit was also higher than anticipated, namely 868 million dollars (640 million euro), 6 % higher than the 822 million dollars (610 million euro) it managed the year before.

 

Large PayPal growth

Donahue said 85 % of eBay users changed their password, but a number among them have been less active ever since. Net turnover rose 9 % to 2.17 billion dollars (1.6 billion euro), but it pales in comparison with PayPal's growth, where net turnover grew 20 % to 1.95 billion dollars (1.4 billion euro).

 

The cyber attack has forced eBay to lower its 2014 forecast by 200 million dollars (150 million euro) to an estimated turnover of 18 to 18.3 billion dollars (13.3 to 13.5 billion euro). Its third quarter turnover is estimated to become 4.3 billion dollars (3.2 billion euro).

Questions or comments? Please feel free to contact the editors


Takeaway.com acquires Eastern European competitors

23/02/2018

Fast food supplier Takeaway.com acquired its Bulgarian competitor BGmenu and its Romanian competitor Oliviera in yet another step towards its goal of being the European market leader.

Colruyt joins PostNL's grocery service

20/02/2018

The mailman will deliver groceries every two weeks from now on: PostNL will collaborate with new grocery service Stockon in the Netherlands. A remarkable fact is that its private label brands are Boni, which is Belgian supermarket chain Colruyt’s private label.

Strong growth for Chinese e-commerce once again

09/02/2018

There was another strong increase in the Chinese online market last year: compared to 2016, it achieved an astonishing 32 % growth. In that regard, China is performing exceptionally online.

European Union bans geoblocking

07/02/2018

Consumers can no longer automatically be diverted to another website or be blocked from visiting a website abroad. The European Parliament reached an agreement on this issue and the ban will probably go in effect later this year.

JD.com is looking at Europe

06/02/2018

Chinese JD.Com has plans to conquer Europe soon, which would make it a serious competitor for Amazon. The web shop’s first European market will most likely be France.

Rocket Internet wants to go public with Home24

19/01/2018

Rocket Internet wants to go public with its furniture web shop Home24 in the summer. During the next few months, it will work tirelessly to improve the web shop’s results.

Back to top