eBay Shows Profit Now But Long Term Uncertain
Online marketplace eBay Inc. on Wednesday posted a better-than-expected 10 percent rise in quarterly profit, aided by a modest pick-up in its core auctions business.
But analysts said it is too early to say whether steps the company is taking to reaccelerate growth in its core business are working and the company forecast 2007 revenue sharply below Wall Street forecasts.
Auction listings were weak in July, but pricing changes in August to encourage sellers to use auctions more often led to a reacceleration in September that has continued to drive business this quarter, Chief Financial Officer Bob Swan said.
Scotsman.com Business – Latest News – EBay posts profit up 10 percent
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