Facing a tight economic climate and strong dollar overseas, eBay reported on Wednesday a 7 percent revenue drop in the fourth quarter and weaker net profits.
Shares of eBay, in after-hours trading, fell 6.25 percent to $12.45. The stock rose nearly 6 percent to close at $13.28 a share during regular trading.
The online auction giant reported revenue of $2.07 billion, down 7 percent from a year ago. That figure fell short of analysts' expectations of $2.12 billion in revenue.
eBay's net income, meanwhile, fell nearly 31 percent to $367 million in the fourth … Read more