Don't give up on eBay yet. Despite posting a second quarter drop in earnings for the second quarter, the company beat analyst estimates. Merrill Lynch and Bank of America upgraded it to neutral on the news, while Goldman Sachs and Credit Suisse raised their earnings targets. Since the announcement yesterday evening, eBay's stock has jumped over 10% to $21.52.
eBay (EBAY) CEO John Donahoe helped explain that show of faith today MOREJessica Shambora, Writer-Reporter - Jul 23, 2009 10:13 PM ET
By Yi-Wyn Yen
Santa Claus won't be coming to eBay this year. The online auction giant reported quarterly sales and profits late Wednesday that met expectations, but gave such a dismal outlook for the holiday season that one analyst suggested Christmas had been cancelled.
eBay reported third-quarter profits of 46 cents a share, or 12% higher than the same period a year ago. Revenues came to $2.12 billion, up $229 million, or 19%, from last year thanks MOREyiwyn - Oct 15, 2008 10:15 PM ET
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