Earnings: eBay Posts A Profit, But Revs Continue To Slide

This story was written by Tameka Kee.
*eBay* continues to feel the sting from consumer cutbacks in spending, but the e-commerce company did manage to scrape up a profit for Q1. Net income excluding charges came in at about $500 million, or $0.39 per share; that's down 11 percent year-over-year, but it beat The Street's estimates of about $0.33 per share (per MarketWatch). Revenues were also down about 8 percent year-over-year, to $2.02 billion, but analysts were only expecting $1.94 billion in sales. The news sent eBay's shares up by more than 3 percent in after-hours trading.

Skype: The VoIP provider generated $153.2 million in revenue in Q1; that's up 21 percent year-over-year, but down 5 percent from Q4. It added almost 38 million new users this quarter, but Skype's growth has been slowing, part of the reason eBay (NSDQ: EBAY) plans to sell or spin it off by 2010.

It's worth noting that eBay used Twitter to help get the news out about its earnings today, complete with a custom #ebayQ109 tag.

Release | Webcast

Photo Credit: Dru Bloomfield

By Tameka Kee

Popular on CBS News


Watch CBSN Live

Watch CBS News anytime, anywhere with the new 24/7 digital news network. Stream CBSN live or on demand for FREE on your TV, computer, tablet, or smartphone.

Watch Now

New Android App

For your Android phone and tablet, download the FREE redesigned app, featuring CBSN, live 24/7 news.