eBay Rakes in Profits

Auction Web Site Has Huge Third Quarter

Wednesday, Oct 15, 2008  |  Updated 4:12 PM PDT
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eBay Rakes in Profits

KNTV

EBay Inc. says it posted a third-quarter profit, reversing a year-ago loss that stemmed from charges to its Skype telecommunications unit. The profit beat analyst forecasts.

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EBay Inc. says it posted a third-quarter profit, reversing a year-ago loss that stemmed from charges to its Skype telecommunications unit. The profit beat analyst forecasts.

The online auction site operator earned $492 million, or 38 cents per share, in the quarter. EBay reported a loss of $936 million, or 69 cents per share, in the year-ago period.

Excluding items, eBay earned 46 cents per share -- five cents higher than analysts polled by Thomson Reuters expected.

Revenue rose 12 percent to $2.12 billion, a bit lower than the $2.13 billion analysts anticipated.

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