net income in its second quarter rose 20 percent to $568 million, or 43 cents a share, compared to the year-ago quarter. The company said revenue climbed 20 percent, to $2.20 billion, from the same period a year ago, fueled primarily by growth in advertising and the payment service PayPal.
EBay’s performance in the quarter was slightly above the expectations of Wall Street analysts. They had anticipated earnings of 42 cents a share on revenue of $2.17 billion, according to a survey of analysts by Thomson Financial.
“This was a strong quarter and we are very pleased with the performance of the portfolio, particularly with the growth generated by PayPal,” eBay’s chief executive, John Donahoe, said. “We have made bold moves across the eBay marketplace to accelerate long-term growth. We remain confident in our strategies to improve the customer experience as we manage in an uncertain economic climate.”
The earnings report comes as eBay’s share price has swooned along with the overall market, and after months of changes to eBay’s marketplace intended to shift the company away from its dependence on a stagnant auctions business.
But most analysts think eBay is doing what it must to create a consistent shopping experience and compete with the rival Amazon.com.
But the number of listings on the site grew 19 percent over last year, driven in part by a reduction of the upfront listing fees.Tags: amazon, analysts, auctions, customer experience, earnings report, ebay, economic climate, marketplace, net income, paypal, share price, shopping experience, thomson financial, wall street
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