ACCESS REALMONEY
Troy Wolverton
eBay's Profit and Revenue Soar
01/16/03 - 08:35 PM EST
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The television advertising cost the company about $14 million, said Rajiv Dutta, the company's chief financial officer. But because of the success of the marketing campaign, the company plans to continue television advertising throughout 2003, Whitman said. "We are re-evaluating our marketing plan. We will do more TV than we previously anticipated," she said. Despite the increase in advertising spending, eBay upped its guidance for 2003. The company now expects its 2003 earnings to reach as high as $1.12 per share, on up to $1.9 billion in revenue. Previously, the company has said it expected 2003 earnings to come in between $1.02 to $1.05 per share on revenue between $1.77 billion to $1.83 billion. eBay has previously projected that it will post $3 billion in revenue on around $30 billion in gross merchandise sales through its site by 2005. eBay shares closed down $2.25, or 3%, to $71.25 in regular trading on the Nasdaq national market on Thursday. In after-hours trading on the Island ECN, company shares hit $71.47, up 1%.
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