eBay (EBAY) Having Better Holiday Start Than Amazon (AMZN)
"Early holiday e-commerce spending tracked by ChannelAdvisor suggests a strong start to the season for eBay and a slightly slower one for Amazon compared to last year," said Needham & Co. analyst Kerry Rice.
ChannelAdvisor data shows eBay's same store sales increased 24.5 percent year-over-year since the start of November up to Thanksgiving, accelerated from 19 percent for the same period last year.
At 41.5 percent, Amazon's comps results were also strong, but they were more subdued relative to 2011 when the company reported same store sales growth of 65 percent.
"These early readings are somewhat consistent with our projections for a deceleration in Amazon's 4Q12 revenue to 25% YoY from 35% YoY last year" said Rice.
Needham and Company has a Buy Rating on eBay and a Hold rating on Amazon.