Ebay net profit falls

Posted by From the Web

Web auction leader Ebay Wednesday posted quarterly results that matched Wall Street estimates but confirmed fears that growth is slowing as the company hewed to its conservative outlook.

Executives said they were taking steps to increase the volume of sales in its core auction business, even as Ebay introduced its first-ever share buyback of up to $2 billion of stock over two years.

Read the complete story here. (Reuters via CNN Money)