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Technology Stocks : eBay - Superb Internet Business Model -- Ignore unavailable to you. Want to Upgrade?

To: Henry Niman who wrote (2912)	4/26/1999 7:10:00 PM
From: tonyt	Read Replies (1) \| Respond to of 7772

No need to go to a spammers web page. In the spirit of sharing infomation without personal gain, here's the WSJ article: eBay Profit Beat Estimates As Revenue Rises Fivefold Dow Jones Newswires SAN JOSE, Calif. -- eBay Inc. posted much stronger-than-expected profit for the first quarter late Monday, as revenue soared. Separately, the online auctioneer said it will buy Butterfield & Butterfield Auctioneers Corp. for $260 million, bringing traditional auction experts into its fold. eBay reported net income of $5.9 million, or five cents a diluted share, compared with a profit of $148,000, or less than a penny a share, in the year-ago period. Excluding noncash charges related to stock-based compensation and acquisition expenses, profit was $7 million. That topped the consensus estimate of analysts surveyed by First Call for a profit of two cents a share. The company had revenue of $34 million, up dramatically from $6 million in the year-earlier period. BancBoston Robertson Stephens analyst Keith Benjamin had been expecting eBay to post revenue of $25.4 million in revenue. eBay said it hosted more than 22.9 million auctions during the first quarter, up from 13.6 million in the fourth quarter of last year. Gross profit margin decreased to 85% for the quarter from 89% a year ago. The company said it was spending more heavily on customer service and new equipment. As a result of the deal struck with eBay Monday, San Francisco-based Butterfield & Butterfield canceled plans for an initial public offering of 1.5 million shares, which had been expected to price this week at between $10 and $15 a share.