E-Bay Hurt by the Recession

Fourth Quarter earnings dropped by 31%

Wednesday, Jan 21, 2009  |  Updated 7:50 PM PDT
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Big Day For Silicon Valley Stocks

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The logo of Internet auction house eBay glows at the company's German headquarters April 24, 2006 in Kleinmachnow, Germany. Germany is among eBay's biggest markets.

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EBay Inc. is showing signs that it is being hurt by the recession. The Internet auction site operator says its fourth-quarter earnings sank 31 percent.

San Jose, Calif.-based eBay said Wednesday it earned $367 million, or 29 cents per share, in the quarter. Excluding one-time items, eBay earned 41 cents per share -- 2 cents higher than the prediction of analysts polled by Thomson Reuters.

Revenue fell 6 percent to $2.04 billion, missing analysts' expectations for $2.12 billion.

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