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Technical Analysis
- 1/23/2009 2:21:30 AM
By Chip Brian, SmarTrend Analytics Team
After hours Wednesday, eBay (NASDAQ:EBAY) announced a 30% drop in net income for its first quarter ended December 31, 2008. Earnings fell to $367.2 million, or $0.29 per share for the quarter. In the year-ago period earnings reached $530.9 million, or $0.39 per share. Excluding one-time charges the company would have earned $524 million, or $0.41 per share, putting earnings above analysts' expectations of $0.39 per share. Revenue dropped 6.6% to $2.04 billion for the quarter. Shares of eBay (NASDAQ:EBAY) were up $0.74 to $13.28 Wednesday.
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