EBay CEO positive in face of weak economy

Reuters News
Posted: Oct 12, 2011 6:13 PM

SAN FRANCISCO (Reuters) - EBay Inc Chief Executive John Donahoe gave a positive outlook on Tuesday in the face of slowing economic growth and early signs of a weak holiday shopping season.

EBay still sees strong growth and "steady" consumers. Economic weakness hasn't affected Marketplace or PayPal volumes in any significant way, Donahoe said in an interview with Reuters.

EBay will spend more on marketing next year, after recently lifting marketing spending for the first time in several years, the CEO added.

EBay has been adding employees this year and plans to keep hiring, Donahoe also said.

"We shouldn't talk ourselves into a weak holiday season," Donahoe told Reuters.

(Reporting by Alistair Barr; editing by Carol Bishopric)