eBay reports revenue and earnings decline
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 quarter, or 29 cents a share, compared with net income of $531 million, or 39 cents a share, a year earlier. Excluding charges, the company posted non-GAAP net profits of $524 million, or 41 cents a share, beating Wall Street's expectations of 39 cents a share profit, according to Thomson Reuters.
eBay CEO John Donahoe said in a statement:
While the holiday season was tough and competitive, our overall results for 2008 were strong.
For 2008, we delivered double-digit revenue and earnings growth; made significant changes in our eBay business; and built a stronger, more diverse portfolio of leading e-commerce businesses. We will build on our strengths in 2009 while managing our business prudently in the continued challenging environment.
Dawn Kawamoto covers enterprise security and financial news relating to technology for CNET News. E-mail Dawn. 





- by casper1n1 July 2, 2009 8:29 PM PDT
- Ebay is a rip off. If anyone wants a new place to sell or buy anything. Go to Aucsome.com, they are an auction site they doesn't charge any fees. I have posted lots of stuff on there, so lets all show Ebay we don't need them when they become this greedy!
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