- JP Morgan notes that based on their listings and revenue per listing analysis, they feel comfortable that eBay's (NASDAQ:EBAY) 1Q is tracking ahead of street consensus estimates of $1.71B and $0.30.
QTD listings up 11% Y/Y. On a reported basis (incl. Taiwan and China), QTD listings are tracking up 8% Y/Y. Ex. Taiwan and China, listings are up 11%. As of 3/16, the firm has tracked 507.4M total new listing, with 369.4M in the US, UK, and DE. Based on analysis and checks, the firm believes that RPL in 1Q is tracking slightly above their estimate of $1.88 due to product mix and stable conversion trends, and as such, they are confident that 1Q is trending above consensus estimates.
Based on their checks, the firm believes that keyword pricing remains stable. According to SEM executives at the JPMorgan Internet Conference, Yahoo!'s Project Panama launch has resulted in lower click prices for brand advertisers. As companies with strong brands such as eBay tend to attract more clicks, they in turn are required to pay less for the same ad position. Net/Net, they believe eBay may realize lower search marketing expenses while maintaining or increasing its lead volume from search. Reits Overweight.
Notablecalls: Expect to see some buy interest in EBAY this morning. I don't see the comment as anything major, though.
QTD listings up 11% Y/Y. On a reported basis (incl. Taiwan and China), QTD listings are tracking up 8% Y/Y. Ex. Taiwan and China, listings are up 11%. As of 3/16, the firm has tracked 507.4M total new listing, with 369.4M in the US, UK, and DE. Based on analysis and checks, the firm believes that RPL in 1Q is tracking slightly above their estimate of $1.88 due to product mix and stable conversion trends, and as such, they are confident that 1Q is trending above consensus estimates.
Based on their checks, the firm believes that keyword pricing remains stable. According to SEM executives at the JPMorgan Internet Conference, Yahoo!'s Project Panama launch has resulted in lower click prices for brand advertisers. As companies with strong brands such as eBay tend to attract more clicks, they in turn are required to pay less for the same ad position. Net/Net, they believe eBay may realize lower search marketing expenses while maintaining or increasing its lead volume from search. Reits Overweight.
Notablecalls: Expect to see some buy interest in EBAY this morning. I don't see the comment as anything major, though.
No comments:
Post a Comment