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Thursday, July 21, 2005

eBay Has Record Quarter

Ebay - the global auction site branded an "electronic pimp" by angry popster Bob Geldof - has notched up record numbers for its second quarter.

For the three months to the end of June eBay reported record consolidated net revenues of $1.09bn - up 40 per cent year on year. At the same time it delivered record operating income of $379m - up 49 per cent on the year before. Net income was $291.6m compared to $190.4m.

In the US, revenues increased 27 pr cent to $423.6m, while takings at eBay's overseas operations grew by 51 per cent to $418.8m.

eBay's online payment service - PayPal - also saw its revenues grow by 51 per cent to $243.9m.

"eBay achieved remarkable results in Q2," said eBay chief exec Meg Whitman. "Excellent momentum in the US and Germany, as well as at PayPal, all helped deliver an impressive jump in revenues and profit."

Last month Bob Geldof, the organiser of the Live 8 gigs earlier this month, kicked off an almighty stink after complaining that tickets for the gig, which were dished out for free, were being sold on eBay.

He called eBay an "electronic pimp" and called on punters to boycott the online auction site. eBay then suffered a PR meltdown, initially resisted calls to pull the auctions before bowing to Bob's bidding.

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