Thursday, April 22, 2004
eBay reported substantial increases in earnings and sales in its first quarter, led by strong international business. Earnings nearly doubled from a year ago.
The company reported net income of $200.1 million or 30 cents a share, a 92 percent increase from earnings of $104.2 million. Excluding one-time items, eBay reported earnings of 31 cents per share, well ahead of analysts' expectations of 26 cents a share, according to analysts.
Sales hit $756.2 million, a 59 percent increase from a year ago and significantly ahead of $716.6 million that analysts estimated.
Transaction revenues, the fees that eBay receives from bringing buyers and sellers together, also rose 59 percent to $738.8 million. The remainder of eBay's sales come mainly from advertising. Gross merchandise sales, which represents the total value of goods sold on eBay, rose 51 percent from a year ago to $8 billion.
By: DocMemory
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