eBay blows thru 2002 revenue estimates
eBay continues to do well. 4th Quarter estimates were blown away and total revenue came close to the revenue of a leading offline retailer according to this New York Times story (registration required):
For the full year, eBay earned $249.9 million, up from $90.4 million a year ago. Sales increased 62 percent, to $1.21 billion.
Yesterday, eBay raised its projections, predicting 2003 revenue of $1.9 billion and earnings per share of $1.12. Those numbers implied that its already high profit margins will continue to increase.
Last year, a total of $14.9 billion worth of merchandise was sold on eBay. That is just shy of the $15.5 billion in sales analysts expect this year for Federated Department stores, the parent of Macy's.