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EBay Has Loss But Still Bests Forecasts

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By RACHEL KONRAD, The Associated Press

Published: October 18, 2007

SAN FRANCISCO - EBay on Wednesday reported a third-quarter net loss of more than $936 million - a rare plunge into the red for the e-commerce juggernaut caused by previously announced charges to its Skype telecommunications division.

San Jose-based eBay still easily exceeded Wall Street's expectations, however, thanks to record revenue of $1.89 billion, up 30 percent from the year-ago quarter. Executives credited record revenue at the company's PayPal electronic payment division as well as brisk international sales and record sales at ticket broker StubHub.com.

Including the $1.4 billion in charges for Skype announced early this month, eBay lost $936.6 million, or 69 cents per share, in the third quarter, which ended Sept. 30. In the year-ago quarter, the online auction company earned $280.9 million, or 20 cents a share.

Not counting Skype charges, stock-based compensation expenses and other one-time costs, eBay earned $563.8 million, or 41 cents per share, up 53 percent from $367,410, or 26 cents a share, in the same period a year ago.

On that basis, which does not comply with generally accepted accounting principles, analysts polled by Thomson Financial had expected eBay to earn $456.26 million, or 33 cents per share, on revenue of $1.83 billion.

EBay stock gained $2 Wednesday, closing at $40.60 on the Nasdaq exchange.

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