Ebay increases profit in the third quarter
Internet auction house Ebay has continued to do good business despite ongoing economic concerns. However, Ebay lowered its expectations for the year as a whole.
Internet auction house Ebay has continued to do good business despite ongoing economic concerns. However, Ebay lowered its expectations for the year as a whole. According to SDA, the group announced a net profit of 492 million dollars for the third quarter, following a loss of 936 million dollars in the same period last year. Ebay had to take write-downs in 2007 due to the Internet telephony provider Skype.
Earnings per share amounted to 46 cents on an adjusted basis, while analysts polled by Reuters had expected 41 cents. Turnover rose by twelve percent to 2.12 billion dollars.
However, the outlook for the fourth quarter was worse than expected. Ebay shares fell by 1.83 dollars to 13.50 dollars after the announcement of the data, having already fallen by 14 percent to 15.33 dollars by the close of trading.
Earnings per share amounted to 46 cents on an adjusted basis, while analysts polled by Reuters had expected 41 cents. Turnover rose by twelve percent to 2.12 billion dollars.
However, the outlook for the fourth quarter was worse than expected. Ebay shares fell by 1.83 dollars to 13.50 dollars after the announcement of the data, having already fallen by 14 percent to 15.33 dollars by the close of trading.
