Ebay revenues up

Which is nice

Ebay is in chipper mood today after reporting improved revenues at the online auction house.

Third quarter net revenues for the three months ended September 30 leapt 70 per cent from $113.4 million in Q3 2000 to $194.4 million.

Consolidated net income for the quarter was $18.8 million, or $0.07 per diluted share.

And eBay's pro forma consolidated net income, excluding certain charges, skipped in a record $34.9 million, or $0.12 per diluted share.

Said Meg Whitman, President and CEO of eBay: "In these extraordinary times, we continue to be impressed by the strength and resiliency of our user community.

"We're continuing to see sustained growth across our US and international markets, deeper penetration into many vertical categories and expanded adoption of our fixed price trading formats," she said.

Despite the current economic uncertainty, eBay remains upbeat about the immediate future and believes Q4 net revenues will exceed earlier estimates.

It reckons it will see net revenues of between $200 and $210 - up $5 million from what the market had expected.

eBay added some 3.5 million users during the last quarter giving it 38 million registered users world-wide. ®

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