eBay Inc.: 10-K Risk Factor Changes

All of our GMV, and substantially all of our net revenues each quarter come from transactions involving sales during that quarter. As a result, it is inherently difficult to accurately forecast our GMV, the amount and sources of our net revenues, earnings (loss) per share, operating income (loss), and our other key operating and financial performance metrics. Our operating and financial results have significantly varied on a quarterly basis throughout our operating history, and we expect our results to continue to fluctuate significantly for a variety of reasons, including all of the risks described in “Risk Factors,” including the following: •our success in attracting and retaining sellers and buyers; •changes in consumer confidence and discretionary spending trends, including shifts in interests away from any of our major focus categories; •the success of our marketing efforts; •the impact of competition on our business and industry; •our ability to convert visits into sales for our sellers; •our success in executing on our strategy and the impact of any changes in our strategy; •the timing and success of product launches, including new services and features we may introduce; •the amount and timing of expenses; and •changes in the geopolitical, legal and regulatory landscape, and our response to those developments. In view of the rapidly evolving nature of our business and the factors discussed above, period-to-period comparisons of our operating and financial results may not be meaningful, and you should not rely upon them as an indication of future performance.