Ebay reported a weakening in its core marketplace business and forecast poor results for the current quarter as consumer spending continued to wane. Shares of the e-commerce company fell 6 per cent in after hours trading.

Ebay posted fourth-quarter revenue of $2.04bn, below analyst estimates, and a 7 per cent drop year-over-year, marking the company’s first-ever sales decline. Chief executive John Donahoe blamed the tumultuous economy and a strengthening dollar for the poor results. “We’ve been operating in an almost unprecedented external environment,” he said.