EBay Profits up 50%

With all three of its business units pulling their weight, EBay
today reported second quarter profits jumped 50 percent year over
year to $376 million, or $0.27 earnings per diluted
share.

EBay also reported record-setting second-quarter net revenues of
$1.83 billion, which represents a growth rate of 30 percent year over
year.

EBay President and CEO Meg Whitman said on a conference
call to announce the earnings that the marketplaces, payments and communications units continued to deliver value to the company’s global community.

Marketplaces net revenues totaled a record $1.29 billion in the quarter, with
its growth clipping along at a rate of 26 percent over the $1.03 billion
reported in a year ago. PayPal net revenues totaled a record $454 million
in the second quarter, a growth rate of 34 percent over the same period a year ago.

And for the second quarter in a row, eBay’s Skype acquisition showed
signs of paying off, as communications net revenues totaled a record
$90 million, a growth rate of 103 percent over the $44
million reported in the same quarter a year ago.

Ebay upgraded its outlook to reflect the good news. The company said
it now expects consolidated net revenues for 2007 to be in the range
of $7.3 billion to $7.450 billion.

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