eBay Sees 2Q Revenue Rise 84 Percent to $181M

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Online auction site eBay Inc. said yesterday that its net revenue for the second quarter rose 84 percent to $180.9 million, from $98.2 million a year ago. Net income for the quarter was $24.6 million, or 9 cents per share.


The company expects net revenue for the second half of 2001 to rise $15 million to $30 million higher than previously stated, possibly as high as $385 million to $400 million. eBay, San Jose, CA, noted that online net revenue in the second quarter was $170 million, up 15 percent from the $88.6 million posted in the second quarter of 2000.


Gross merchandise sales in the second quarter rose 74 percent to $2.25 billion, from $1.29 billion a year earlier. Sales from its Half.com and Buy It Now divisions represented 11 percent of total gross merchandise sales in the quarter.


"It's clear that our business has excellent momentum," said eBay president/CEO Meg Whitman. "We're seeing sustained growth across categories, trading formats and in our international operations."


eBay said its German site transacted $193 million in sales and its UK site $42 million. International sales contributed 14 percent to revenue in the second quarter, up from 12 percent in the first quarter. The company also said that online advertising revenue from third-party advertisers increased to 10 percent of net revenue in the quarter, up from 8 percent in the first, largely from its exclusive relationship with AOL Time Warner.


Registered users of eBay's services increased to 34.1 million in the second quarter, with 4.4 million new users signing up in the quarter. eBay said it hosted 98.7 million listings during the quarter, up 58 percent from last year. eBay's German site hosted 10.4 million listings and its UK site hosted 2.4 million.


The company said it ended the second quarter with $923 million in cash and investments.


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