Ebay

[CityFarmer]

19% increase in net income YoY for a company with billion $ sales per quarter, is falling short of estimates... Wow, the expectation is pretty high...

EBay reports gains of S$4.6 billion, falling short of Wall St estimates

NEW YORK — In first quarter financial results released yesterday, eBay reported revenue of US$3.7 billion (S$4.6 billion), up 14 per cent from a year earlier, and net income of US$677 million, or 51 US cents a share, a 19 per cent increase from a year earlier.

“We had a strong first quarter, with accelerating user growth across both Marketplaces and PayPal,” said eBay President and Chief Executive John Donahoe.

But the results, as well as second-quarter forecasts, fell short of expectations, causing the stock to fall a few points in after-hours trading. EBay forecast a second-quarter profit of 61 to 63 US cents a share and revenue of US$3.8 billion to US$3.9 billion. Analysts were looking for earnings of 66 US cents a share on revenue of US$3.95 billion, according to Reuters.

http://www.todayonline.com/tech/ebay-rep...-estimates

[CityFarmer]

Carl Icahn has an upper hand now?

eBay to cut jobs, sell enterprise unit ahead of PayPal split

SAN FRANCISCO (Jan 22): ebay plans to cut its workforce by 7 percent, or 2,400 jobs, in the current quarter and is exploring a sale or public offering of its enterprise unit as the e-commerce company prepares to split from its payments division, PayPal, this year.

The jobs will be cut across the marketplace, payments and enterprise divisions, eBay said on Wednesday in its fourth-quarter earnings report.

eBay said it entered into a standstill agreement with Carl Icahn, its largest active shareholder, and appointed to its board Icahn Capital executive Jonathan Christodoro.

It also is adding two Wall Street bankers to its board, expanding the number of directors to 15.

PayPal agreed to adopt a number of measures proposed by Icahn, which the billionaire said enhanced corporate governance at the payments giant.
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http://www.theedgemarkets.com/sg/article...ypal-split