Auction portal makes US$200m profits

22 Apr 2004

Online auction site eBay reported first quarter earnings of US$200m, or 30 cents per share. The company reported revenues for the first quarter of US$756.2m, up 59pc on the previous year.

The company reported an operating income of US$266.7m, up 80pc on the previous year. The results exceeded the company’s own expectations of US$700m in revenues for the quarter.

eBay said that for the full year it expects to post earnings of US$1.13 per share on sales of US$3.15bn.

“eBay’s Q1 results exceeded our highest expectations,” said Meg Whitman, president and CEO of eBay. “Our continuing momentum demonstrates yet again the power of eBay’s community and reinforces our confidence in the long-term potential of our business.”

By John Kennedy