eBay shares fell to their lowest point in nearly two years on Thursday after its cautious near-term outlook led to downgrades by several Wall Street analysts.

The shares fell $3.90, or 13.9 percent, to $24.20.

In a statement on Wednesday eBay its second-quarter earnings climbed 22 percent, helped by growth in the company’s e-commerce sites and its PayPal payments service.

Posted: 07|18|08 at 9:27 am. Filed under: Auction News.