EBay Racks Up A Solid Quarter, Declares Stock Split - InformationWeek

InformationWeek is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them.Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

IoT
IoT
News

EBay Racks Up A Solid Quarter, Declares Stock Split

Online auction house eBay reported a profit of $8 million, or 6 cents a share, for its first quarter, ended March 30, almost doubling the $4.8 million profit reported a year ago. Market analysts had expected a profit of between 3 cents and 5 cents a share. Company execs took the opportunity Tuesday to announce a 2-for-1 stock split scheduled for May 24.

EBay experienced major expansion in the quarter, creating an exchange for small businesses, announcing a joint venture with Autotrader.com, and breaking into the Japanese market. But arguably the most significant bit of growth for the company was a 230% increase of registered users of the auction site over the first quarter of 1999. That pushed revenue from online sales to $77.3 million, compared with $34.0 million a year ago.

"This was a solid quarter from eBay," says W.R.Hambrecht & Co. analyst Derek Brown. "It demonstrated yet again the consistency and profitability of their business model." Brown is optimistic about eBay's immediate future. "User adoption of the platform is at an all-time high, and their expansion efforts seem to be moving along efficiently."

We welcome your comments on this topic on our social media channels, or [contact us directly] with questions about the site.
Comment  | 
Print  | 
More Insights
2020 State of DevOps Report
2020 State of DevOps Report
Download this report today to learn more about the key tools and technologies being utilized, and how organizations deal with the cultural and process changes that DevOps brings. The report also examines the barriers organizations face, as well as the rewards from DevOps including faster application delivery, higher quality products, and quicker recovery from errors in production.
Slideshows
10 Top Cloud Computing Startups
Cynthia Harvey, Freelance Journalist, InformationWeek,  8/3/2020
Commentary
How Enterprises Can Adopt Video Game Cloud Strategy
Joao-Pierre S. Ruth, Senior Writer,  7/28/2020
Commentary
Conversational AI Comes of Age
Guest Commentary, Guest Commentary,  8/7/2020
Register for InformationWeek Newsletters
Video
Current Issue
Special Report: Why Performance Testing is Crucial Today
This special report will help enterprises determine what they should expect from performance testing solutions and how to put them to work most efficiently. Get it today!
White Papers
Slideshows
Twitter Feed
Sponsored Live Streaming Video
Everything You've Been Told About Mobility Is Wrong
Attend this video symposium with Sean Wisdom, Global Director of Mobility Solutions, and learn about how you can harness powerful new products to mobilize your business potential.
Sponsored Video
Flash Poll