EBay posted lower fourth-quarter profit and revenue as the auction site company was hit by slowing consumer spending.

The company also gave a weaker-than-expected forecast for the current quarter, sending its shares down 6 per cent. EBay said the strengthening of the US dollar also cut back on its profits from overseas operations. More than half of eBay sales come from abroad.

Chief Executive John Donahoe said: "There is no doubt eBay was impacted by the macroeconomy."

Analysts said the company's first-quarter view, which came in well below Wall Street estimates, was a bleak sign. Jeffrey Lindsay of Bernstein Research called it "a pessimistic guidance for 2009."

"The real story is they are guiding down a lot," he said.

Net profit in the fourth quarter, usually eBay's strongest due to holiday sales, fell to $367 million, or 29 cents per share, from $531 million, or 39 cents per share, a year earlier.

Total revenue fell 7 per cent to $2.04 billion, below the $2.11 billion expected by Wall Street. The bulk of that was due to a 16 per cent drop at its main business, which largely consists of its auction sites.

Meanwhile revenue rose 26 per cent at internet telephone company Skype and 11 per cent at web payments service PayPal.

EBay, whose shares are down 56 per cent from a year ago, has faced an uphill battle trying to stimulate growth. It has been moving to a fixed-price model in an effort to take on rivals such as Amazon.

The stock fell to $12.49 after-hours from its close of $13.28.

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