Profits plummet at eBay
Published July 27th, 2006
eBayyer.co.uk
Internet auction site eBay saw its second quarter profits drop by 14 per cent compared to last year.
The brand posted profits of $250 million (£135.3 million) for the quarter, down from $291.6 million (£157.9 million) in 2005. The profit decrease confirmed fears of slowing growth but its shares rose five per cent after a share buyback was announced.
The company quarterly profits were however in line with expectations, as was revenue, which shot up 30 per cent to $1.41 billion (£763 million).
