EBay 2Q Profit Surges 50 Percent
Published July 19th, 2007
EBay yesterday reported a 50 percent increase in net income today and raised its projection for annual revenue.
In its second-quarter earnings report, the company announced profit of $376 million, or 27 cents a share, a 50 percent increase over the period in 2006.
The company said sales were $1.83 billion, a 30 percent increase from the second quarter of 2006. Earnings, not based on generally accepted accounting principles, were 34 cents a share, beating Wall Street estimates of 32 cents a share.
In an interview, eBay’s chief executive, Meg Whitman, said “this was one of our best quarters in the last several.â€
Still, investors appeared to expect more. EBay’s shares declined slightly after hours, trading a bit under $34. In the regular trading session, they had closed at $34.05, down 20 cents.
