eBay down on Skype write-off but not out
The company swung to a loss of $936m, or 68 cents a share, from a profit of $281m, or 20 cents, a year ago. Within the Skype charge and other one-time expenses, the company would have earned $564m, or 41 cents. On this basis, it actually beat average analysts' forecasts of about 33 cents a share. And revenue rose a robust 30% to $1.89bn. The company pointed to strong growth in the US and Germany. The online auctioneer also said it may hit Wall Street's full-year targets of between $1.35 a share and $1.41 a share. Excluding one-time expenses, eBay hopes to earn between $1.47 a share and $1.49 a share for 2007 on revenue of between $7.6bn and $7.65bn. Shares in the company shot up more than 5% to close at $40.60 on the Nasdaq yesterday.