UPDATED: eBay Inc Reports Second Quarter 2008 Results

By: Richard Brewer-Hay

eBay reported second quarter 2008 earnings results a few minutes ago. The company posted second quarter revenue of $2.20 billion, up $361 million from the same period last year. Net income on a GAAP basis was $460 million, or $0.35 per diluted share, and non-GAAP net income was $568 million, or $0.43 per diluted share.

eBay Reports Second Quarter 2008 Results

Read the full press release here: eBay Inc. Reports Second Quarter 2008 Results

To listen to the Q2 2008 Earnings call at 2pm PT this afternoon, please click here. If you’re unable to listen at 2pm but have access to a PC, I’ll be live-blogging via Twitter starting around 2pm: http://twitter.com/ebayinkblog.

Quarterly business highlights (from the press release)
• eBay Inc. repurchased approximately 19 million shares of its outstanding common stock at a cost of approximately $566 million. Since the inception of the share buyback program in the third quarter of 2006, the company has repurchased $4.7 billion of its common stock.
• eBay announced initiatives to enhance the safety and vibrancy of the marketplace including: new rewards and discounts for PowerSellers and expanded protections for customers using PayPal.
eBay Motors completed agreements to feature certified pre-owned inventory from Chrysler, GM, Lexus and Ford on its showroom hub.
• The company’s global classifieds businesses averaged 81 million unique visitors per month during the quarter, representing and increase of 121% year-over-year.
StubHub announced a deal making it the official online secondary ticket marketplace for Madonna’s 2008 North America Tour. The company reached a milestone with its 15 millionth ticket sold.
• PayPal Merchant Services signed deals with Delta Airlines, Blockbuster.com, Arcadia Group (U.K.) and William Hill (U.K).
Skype launched 4.0 in Beta, the largest redesign of the Skype interface since the company’s inception.
• Skype named former Motorola veteran, Scott Durchslag, to the position of chief operating officer overseeing product strategy and marketing.


UPDATE:

Rajiv Dutta is retiring from eBay. Lorrie Norrington to succeed. Full post here

Cheers,
Richard.

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* Earnings: eBay Q2 Revs Up 20 Percent; Income Up 22 Percent; Skype Up 51 Percent
* eBay: Q2 Beats Street; Q3 Outlook a Bit Light