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Outlook looks bleak for eBay
Online retailer and auction house eBay posted a five percent increase in third-quarter earnings on Wednesday but said that the stalling economy would leave its annual revenue well below expectations.

Following the announcement, the company's shares fell 12 percent in extended trading.

The pioneering website reported net income of $492,2-million, or 38 cents a share, compared with a loss of $935,6-million, or 69 cents a share, in the same quarter a year ago, when the company took a large charge in connection with its acquisition of Skype, the online phone and text-messaging service.

EBay said that revenue climbed to $2,12-billion, up $228-million from a year ago, fuelled largely by growth in advertising, classified ads and payment services.

For the year, eBay said it now expected revenue of $8,53-billion to $8,68-billion, well below its earlier forecast of $8,8-billion to $9,05-billion.

Gross merchandise volume, the total sum of all transactions on the eBay Marketplace and a crucial measure of growth for the company, declined one percent from the year-ago period to $14,28-billion.

EBay's earnings came a week after the company said it would lay off 10 percent of its work force of 16 000, including 1 000 permanent employees, and pay a total of $1,35-billion to acquire the online payment firm Bill Me Later and two Danish classified advertising companies.

"Overall, we are pleased with the performance of the portfolio this past quarter," eBay chief executive John Donahoe said in a statement. "We took a number of steps during the quarter to further strengthen our business and better align our cost structure to invest and compete." - Sapa-dpa



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thieving gits

[Edited on 16-10-08 by mangogrooveworkshop]

"Overall, we are pleased with the performance of the portfolio this past quarter," eBay chief executive John Donahoe said in a statement. "We took a number of steps during the quarter to further strengthen our business and better align our cost structure to invest and compete." - Sapa-dpa


Bet those poos sods who've lost their jobs aren't too pleased with the company's performance.

eBay - the worlds online tat bazzar

yeah its rather a long winded way of saying we sack a heap of folk cos they cost to much

I just worked out that if 'you' owned 100% of ebay you would be taking home a grand sum of:

$187,036,000

and thats just for this quarter!!!

PS Please correct me if I'm wrong my knowledge of stocks and shares is limited.

and if my previous post is correct ebays shares are trading at $14.97 which means that if you have any spare cash and invest it in ebay you are looking at 10% per year if the current trend of income continues.