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 Press Releases 2003  
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eBay Files Second Quarter 2003 Form 10-Q Reflecting MercExchange Litigation Charge - August 11, 2003
San Jose, CA, August 11, 2003 - As reported in its Form 10-Q SEC filing released today, eBay Inc. (NASDAQ: EBAY;http://www.ebay.com/) has amended its second quarter 2003 results to reflect an operating charge in the amount of $30 million and the related tax benefit of $12.1 million. The charge, which reduces the company's diluted EPS in Q2 by 3 cents on a 2-for-1 post-split basis, comes as a result of last week's Federal Court decision upholding the jury's verdict in the MercExchange case.

Prior to the MercExchange entries, eBay's reported GAAP net income for the three- and six-months ended June 30, 2003 was $109.7 million and $213.9 million, respectively. The GAAP diluted net income per share for the three- and six-months ended June 30, 2003, prior to the company's announced 2-for-1 stock split, was $0.33 and $0.66, respectively.

The reported net income for the three- and six-months ended June 30, 2003, as reflected in today's Form 10-Q filing, is now $91.9 million and $196.1 million, respectively. The diluted net income per share for the three- and six-months ended June 30, 2003, is now $0.28 and $0.60 on a pre-split basis, respectively. On a 2-for-1 post-split basis, as reported in the Form 10-Q filing, the diluted net income per share is $0.14 and $0.30, respectively.

Because the financial impact of this event is included in the company's operating results for the quarter ended June 30th, the company's previously announced quarterly guidance for Q3 and Q4 remains unchanged.

Because the financial impact of this event is included in the company's operating results for the quarter ended June 30th, the company's previously announced quarterly guidance for Q3 and Q4 remains unchanged.

 
 

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