eBay doubles Q1 profit


eBay doubles Q1 profit

eBay has doubled its profit in the first quarter, as more than $5bn (£3.1bn) in merchandise passed through the online auction site. 

eBay reported $476.5m (£299m) in revenue in the quarter ended 31 March, up from $245.1m in last year's first quarter. Net income was $104.2m (£65.5m), up 119% from last year's $47.6m.

Excluding stock-based compensation expenses, amortisation of some assets, and some tax and investment costs, eBay reported pro-forma net income of $116.2m (£73m).

eBay is now "more confident than ever" about the long term potential of all of its business activities, chief executive officer Meg Whitman said.

That confidence translated into an increased earnings and revenue forecast for 2003. eBay now anticipates up to $2.05bn (£1.3bn) in revenue this year.


Email Alerts

Register now to receive ComputerWeekly.com IT-related news, guides and more, delivered to your inbox.
By submitting your personal information, you agree to receive emails regarding relevant products and special offers from TechTarget and its partners. You also agree that your personal information may be transferred and processed in the United States, and that you have read and agree to the Terms of Use and the Privacy Policy.

COMMENTS powered by Disqus  //  Commenting policy