EBay Sets Sales Goal of $3B in 2005

Wednesday, September 20th 2000, 12:00 am
By: News On 6

NEW YORK (AP) — EBay Inc., the San Jose, Calif.-based online auction company, has set a sales goal of $3 billion in 2005.

The sales projection implies a revenue growth approaching 50 percent per year, the company announced Wednesday, following its annual meeting with analysts.

Investors reacted favorably to the news, pushing shares of eBay up $2.19 to $67.875 in trading on the Nasdaq Stock Market.

EBay said its revenue goal is based on estimates of the size of its various markets, including collectibles, practical items, computers, used autos and parts, and the continued strength of its global business model.

EBay, which currently has operations in five countries, said it expects to be in 10 countries by the end of 2001 and 25 countries by the end of 2005.