eBay Stock Falters on Glum Outlook
eBay turned in more than respectable earnings for its second quarter: a 22 percent rise in profits for a net income of $460 million, or 43 cents a share. Yet the online auctioneer’s stock value dropped following the news, in part because of its disappointing guidance for the third quarter. After the earnings announcement, shares fell $1.86 to $26.24. By mid-afternoon on Thursday, they had tumbled $4.18 to $23.52, then recovered slightly to close at $24.20.
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eBay Stock Falters on Glum Outlook
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