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eBay Sales Up, Profits Down

July 17, 2013

EBay posted a surge in second-quarter sales Wednesday, but profits fell as fierce competition with online retail giant Amazon spurred rising costs.

The auction site, which in recent years has become more of an online storefront for retailers, said that its profits dropped from 692 million dollars a year ago to 640 million dollars in the just-completed quarter.

Revenue was booked at 3.9 billion dollars, up from 3.4 billion in sales in the second quarter of 2012.

eBay shares dropped by 5 per cent in after hours trading as chief executive John Donahue revised the company's forecast downward, citing "macroeconomic headwinds in Europe and Korea."

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Source: Copyright 2013 dpa Deutsche Presse-Agentur GmbH

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