E-Bay Hurt by the Recession

Fourth Quarter earnings dropped by 31%

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    NEWSLETTERS

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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.

    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.

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