eBay Beats the Numbers Despite Skype Writedown

Posted by: Rob Hof on October 17, 2007

No surprise that eBay logged a third-quarter loss thanks to its $1.4 billion writedown on its $4.1 billion Skype acquisition in 2005. But not including those and other onetime charges, eBay saw a 53% jump in profit from a year ago, considerably more than analysts expected, on a 30% rise in revenues, to $1.9 billion.

Investors pretty much bought ahead of the good news, lifting eBay’s shares by 5%, which may leave less upside in after-hours trading. But so far, it’s looking like the Web’s big names, including those like Yahoo that have been written off by some analysts, are surprising on the upside despite the uncertain economy.

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Bloomberg Businessweek writers Peter Burrows, Cliff Edwards, Olga Kharif, Aaron Ricadela, and Douglas MacMillan, dig behind the headlines to analyze what’s really happening throughout the world of technology. Tech Beat covers everything from tech bellwethers like Apple, Google, and Intel and emerging new leaders such as Facebook to new technologies, trends, and controversies.

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