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RealTime IT News

eBay Looks to a Billion-Dollar Year

San Jose, Calif.-based auction leader eBay , saying that its revenues are on track for a billion-dollar year, brought its second quarter earnings in at $54.3 million, or 19 cents per share, as expected.

The company said that third-quarter earnings are now anticipated to be 19 cents per share, with revenues ranging between $278 million and $281 million.

For the full year 2002, eBay said it continues to expect that net revenues will approximate $1.1 billion with pro forma earnings per diluted share between 76 and 78 cents for the full year, reflecting a three-cent increase from previous guidance

And for 2003 the company said net revenues could range between $1.50 billion and $1.55 billion, excluding the expected impact of the recently announced

href="http://www.internetnews.com/ec-news/article.php/1381081">agreement to acquire
online payment service provider PayPal.

Second-quarter revenues came in at $266 million, up 47 percent from a year ago.

Online net transaction revenues in the second quarter increased 66 percent year-over-year to a record $235.3 million, driven by 48 percent year-over-year transaction revenue growth in the U.S. and 152 percent year-over-year growth internationally.

The second quarter net income figure of $54.3 million represents a 121 percent increase over the net income level of $24.6 million reported in the same period a year earlier.