eBay profits continue to fall
|
eBay had said earlier this year that it planned to spin off Skype
|
Profits at online auction giant eBay have fallen by 29% as it continued to struggle amid the weak economy.
It made $350m (£211m) in the third quarter from $492m in the same period a year earlier as customers showed reluctance to spend. But the firm’s overall sales rose 6% to $2.4bn as more people used its PayPal division to pay for things online. Shares fell 5% in after-hours trading as it forecast the fourth quarter would continue to be tough. Revenue from internet communications service Skype, rose by 29%. Earlier this year eBay agreed to sell the business for about $2bn though will keep a 35% stake.
2 Responses to “eBay Profits Falling”
Honestly, this doesn’t really surprise me, when in a reccession, and people don ‘t buy! , i think ebay didn’t quite realise that buying online, is still spending money and therefore much the same as spending money in a shop.
Looks like the plan with skype wont happen!
I buy a lot off ebay… but not expensive items anymore