eBay Q4 Earnings
Ebay (NASDAY: EBAY), reported Q4 earnings late Wednesday.
4th quarter profit was up 24% with sales volume beating expectations. Net income was up 5 cents a share over the prior year with net income at $346m. Sales were up 29% to $1.72b.
The Paypal payments division showed robust growth with payments up 37% to revenues of $417m. The communications division, home of Skype, showed revenue of $66m which according to comments by CEO Meg Whitman translated to “not yet developing as quickly as we hoped..”
For the coming year, Ebay raised guidance to project earnings for 2007 to be in the range of $1.25 to $1.29 a share; ahead of analyst average estimates of $1.23. The increase is partly result of expected revenue from the acquisition of Stubhub (est. $120m) and growth at Paypal.
More detailed press coverage on Ebay’s finances can be found at:
