Google Earnings Awaited; eBay Profits Jump
DEBORAH AMOS, host:
There's a better news for some other U.S. tech companies.
Google is expected to announce today that it posted strong earnings for yet another quarter. Yesterday, the online auctioneer eBay said its profits rose a stunning 52 percent.
NPR's Wendy Kaufman reports.
WENDY KAUFMAN: During the past three months, nearly 83 million people used eBay to buy and sell more than $14 billion worth of goods. The company's total revenue for the quarter: $1.77 billion, about half of that coming from international sales.
eBay's strong showing overseas - the performance of its electronic transaction division PayPal, it's Internet phone service Skype, and higher fees for some online sales all contributed to a better than expected performance. Analyst Rob Enderle says eBay's strong results were a bit of a relief for investors who've been a bit spooked by lower than expected numbers from Yahoo. On Tuesday, that company announced that its first quarter profit fell 11 percent.
Mr. ROB ENDERLE (Principal Analyst, The Enderle Group): The big picture is that there is no softness at all to the majority of Internet, major Internet properties. eBay is a bellwether and performed very strongly, showcasing that strength.
KAUFMANN: As for Google, it just keeps churning out an unparalleled record of profit. Analyst poll by Thompson Financial predict that when Google reports later today, it will post earnings of $3.30 a share. That's up markedly over last year. Enderle says it appears that Google is benefiting from Yahoo's weaknesses.
Wendy Kaufman, NPR News.
NPR transcripts are created on a rush deadline by a contractor for NPR, and accuracy and availability may vary. This text may not be in its final form and may be updated or revised in the future. Please be aware that the authoritative record of NPR's programming is the audio.