eBay Earning Preview: Expecting Marketplaces Segment To Under-Perform

We expect its payments division PayPal to carry earnings during the quarter as the marketplaces segment is likely to show sub-par growth. We believe the latter will continue to be impacted by headwinds such as last year's security breach and Google Panda update that have contributed to reduced traffic levels on eBay's marketplaces. On the other hand, we believe PayPal's business will be driven by high growth across the Braintree business and mobile payments.