EARNINGS REPORTING - surprises, misses & more Message Board

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Non-Tech : EARNINGS REPORTING - surprises, misses & more

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To: Tom Hua who wrote (204)	7/25/2000 6:09:48 PM
From: 2MAR$	Read Replies (1) of 762

7/25...EBAY (ad/product/administ costs double) Ebay Reports Higher Profit, Sales shorted $57.. PALO ALTO, Calif. (Reuters) - The online auction site eBay Inc (NasdaqNM:EBAY - news) Tuesday reported higher second quarter earnings and sales as well as a sharp increase in its user base. The company said it earned $11.6 million or four cents per diluted share in the quarter, compared with $5.1 million or two cents per share in the year-ago period. The earnings beat the Wall Street consensus forecast for earnings of three cents per share, according to research firm First Call/Thomson Financial. Excluding certain unusual charges, eBay said it earned $13.2 million or five cents per share. The results were announced after the close of regular trading. In after hours trading on Instinet, shares of San Jose, Calif.-based eBay were trading at 57 -- 3/4 of a point above the Nasdaq market close of 56-1/4. The stock has swung from a low of 35-1/8 to a high of 127-1/2 in the last 52 weeks. Revenues nearly doubled, to $97.4 million from $49.5 million last year. eBay said that gross merchandise sales on the site totaled $1.3 billion, up 108 percent from last year, and the registered user base reached 15.8 million, up from 5.6 million in the year-ago quarter. ``We are very pleased with our second quarter results,'' eBay Chief Executive Meg Whitman said in a statement. ``Everyday the eBay marketplace becomes indispensable to more people and small businesses around the world.'' During the second quarter, eBay hosted some 62.5 million auctions selling everything from small-ticket collectibles to small business equipment and cars. That is more than double the 29.3 million auctions it hosted in the year-ago quarter. The company said that car and vehicle listings have grown 56 percent since the automobile site was launched on April 24.

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