Hurt by its sluggish auction business, eBay reported a 29 percent drop in second-quarter earnings.
Net income fell to $327 million, or 25 cents a share, compared with $460 million, or 35 cents a share, in the year-ago quarter. Sales also were lower, slipping 4.5 percent to $2.1 billion for the quarter ended June 30, the company said Wednesday.
Excluding one-time charges and stock-option costs, eBay said quarterly earnings would have reached 37 cents a share, or $478.6 million.
Despite the downturn, results beat the forecasts of analysts, who had expected sales of $1.99 billion and … Read more