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Whitman: eBay To Upgrade Core Auction Business; No Acquisitions Planned

Thursday, 19 Apr 2007 | 11:09 AM ET
AP

Margaret C. “Meg” Whitman, president and CEO of eBay , told CNBC’s “Squawk on the Street” that the company plans to upgrade its core auction business over the next 12 months and has no immediate plans to make another acquisition.

“We are very focused on taking our key auction business to the next level,” Whitman said Thursday. “We’ve said our number one priority for the company is re-igniting that business. We will make a number of small changes over the next 12 months that I think will continue the nice acceleration we’ve seen in conversation rates and average selling prices. So, look for more innovation in the auction business in the next 12 months.”

Meg Whitman Speaks
eBay CEO Meg Whitman discusses her company's earnings and outlook with CNBC's Mark Haines & Erin Burnett

Whitman said the company remains “opportunistic” about possible acquisitions, but has nothing “on the plate right now.”

“The global economy, I think, is quite strong although there are pockets of concern,” Whitman said. “Germany is of some concern for us – the growth rate is lower than we’d like to see and we’re seeing some of that in our business. We feel the U.S. economy is actually stronger than many economists are giving it credit for. We see good demand in the U.S.”

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