eBay Earnings Up 53 Percent
The online auction site, at times criticized by its sellers on fees and service issues, posts a sizable earnings increase.
San Jose-based eBay pulled in earnings of 21 cents per share, or $291.6 million USD, for the three months ending in June, the company said in a press release.
That tops its numbers for the same period last year, 14 cents per share or $190.4 million. Analysts surveyed by Thompson Financial had estimated earnings of 18 cents per share for eBay for the period.
Ebay saw revenue of $1.09 billion for the period, compared to last year and $773.4 million for those three months. “Our results underscore the power of our community of users and the potential of what we can achieve together,” eBay CEO Meg Whitman told analysts during a Wednesday conference call.
Ebay has been working to enhance its offerings to keep more sellers from departing for rival auction services with better fees and terms of service. The company launched ProStores to allow sellers an easy way to create an online store.
Executives dismissed talk that the company’s growth has come on the backs of its sellers via higher fees, instead of from more sellers. They described the gains as a result of an increase in sales volume.
David Utter is a staff writer for WebProNews covering technology and business. Email him here.