Ebay Inc. (EBAY) Profit Skyrockets
EBay Inc. reported Wednesday that second-quarter profit surged 50 percent, easily beating Wall Street expectations thanks to strong sales on online auctions, the automobile classified section and e-commerce sites such as shopping.com.
But analysts remained concerned about the declining number of items for sale on the site. EBay shares fell 26 cents in extended trading after losing 20 cents to $34.05 in Wednesday's regular trading session.
The San Jose-based company earned $375.8 million, or 27 cents per share, compared with $249.9 million, or 17 cents per share, in the second quarter of 2006.
Revenue for the period ended June 30 was $1.83 billion, up 30 percent from $1.41 billion in the year-ago quarter.
Not including $79.6 million in stock-based compensation expenses and other one-time charges, eBay earned $471.1 million, or 34 cents per share, up 34 percent from a year ago.
On that basis, which does not comply with generally accepted accounting principles, analysts polled by Thomson Financial expected eBay to earn $447.18 million, or 32 cents per share, on revenue of $1.78 billion.
But analysts remained concerned about the declining number of items for sale on the site. EBay shares fell 26 cents in extended trading after losing 20 cents to $34.05 in Wednesday's regular trading session.
The San Jose-based company earned $375.8 million, or 27 cents per share, compared with $249.9 million, or 17 cents per share, in the second quarter of 2006.
Revenue for the period ended June 30 was $1.83 billion, up 30 percent from $1.41 billion in the year-ago quarter.
Not including $79.6 million in stock-based compensation expenses and other one-time charges, eBay earned $471.1 million, or 34 cents per share, up 34 percent from a year ago.
On that basis, which does not comply with generally accepted accounting principles, analysts polled by Thomson Financial expected eBay to earn $447.18 million, or 32 cents per share, on revenue of $1.78 billion.
posted by Stock Administrator @ 8:48 PM
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