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.