eBay reports improved profits

Online ecommerce giant eBay has come out with their revenue report and the company has posted a fourth-quarter profit rise of 24%.

The company managed to beat the market estimates and they have also raised their estimates for the current quarter.

eBay gained during the recent holiday season especially in markets like United States, United Kingdom and Germany. The company posted earnings of $349 million, or 25 cents per share for the quarter ending on December 31.

eBay President and Chief Executive Meg Whitman spoke about this improved performance: “It was a very strong quarter capping a very strong year.”

EBay reported that during the holiday season, more than 81 million active eBay users exchanged $14.4 billion in goods.

For the year 2006, eBay earned $1.13 billion, or 79 cents per share.

Popularity: 30%