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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED -- Ignore unavailable to you. Want to Upgrade?

To: FR1 who wrote (46490)	1/15/2002 5:38:21 PM
From: stockman_scott	Read Replies (2) \| Respond to of 65232

eBay Reports Higher Sales, Earnings Tuesday January 15, 5:28 pm Eastern Time By Andrea Orr PALO ALTO, Calif. (Reuters) - The Internet auction site eBay Inc. (NasdaqNM:EBAY - news), on Tuesday reported another period of robust growth and increased its guidance for the first half of 2002, saying the U.S. recession had not slowed its momentum. eBay reported a fourth quarter net profit of $25.9 million or nine cents per share in the quarter, compared with net income of $23.9 million, or nine cents per share, in the year ago quarter. It also said that its international business, identified as a key source of future growth, achieved operating profitability for the first time during the fourth quarter. The company, one of the few Internet companies that has been consistently profitable, raised its revenue forecasts for the first half of 2002 to between $490 million and $510 million. During a meeting with analysts in October, the company had forecast revenues of just over $460 million for that period. For the fourth quarter just ended, eBay said its operating income, excluding a range of costs, totaled $38.5 million or 14 cents per share, in the upper range of expectations, which had ranged from 12 cents to 15 cents per share. eBay said its revenues rose to $219.4 million from $134 million year ago. Most analysts had been forecasting revenues of just over $211 million, according to a survey by Thomson Financial. ``I thought it was a very, very good quarter,'' said W.R. Hambrecht analyst Derek Brown. ``eBay continues to outperform by healthy margins, despite economic turmoil and disastrous results of its online and offline peer companies.'' In an interview after the earnings were released, eBay Chief Financial Officer Rajiv Dutta said the recent holiday season was one of its best ever, despite the recession in the United States. The company also said it expected to post operating earnings of 32 cents to 33 cents per share during the first half of 2002, which is in line with guidance it has provided previously. eBay shares, which had closed the regular trading session up 87 cents to $64.03, were quoted significantly lower, at around $61 in after-hours activity, following the release of earnings. Analysts said eBay stock could come under pressure if investors start to see it as a maturing company with slowing momentum. CFO Dutta tried to dismiss those concerns on Tuesday and said its U.S. business had seen accelerated growth during the fourth quarter.