Earnings surged to $109.7 million, or 33 cents a share, from $54.3 million, or 19 cents a share in the second quarter of 2002. Revenue jumped 91 percent to $509.3 million.
eBay is shifting away from solely relying on auctions by selling more fixed-price goods. Fixed-price products represented about 27 percent of total product sales in the second quarter.
For the six months that ended June 30, 2003, the San Jose, California company earned $213.9 million, compared with $101.9 million in the same period of 2002. Revenue rose to 93 percent to $985.8 million.
Before the earnings release came out, eBay’s stock closed at a 52-week high of $115.74 on Thursday.
Alltel Corp. (
AT: chart), which offers wireless and wireline telephone services across 26 states from Arizona to New York, said its second-quarter earnings rose to $548.1 million, or $1.75 a share, compared with $216.2 million, or 69 cents a share, in the year-ago quarter. The company sold the financial services division of its information services business.
Adolph Coors Co. (
RKY: chart), the nation’s third biggest brewer, said its earnings rose 12.9 percent in the second quarter due to a temporary drop in its tax rate. Profits jumped to $76.3 million, or $2.09 a share, from $67.6 million, or $1.84 a share in the year-ago quarter. Revenue rose 4.7 percent to $1.1 billion.
Specialty coffee retailer
Starbucks Corp. (
SBUX: chart) earned $68.4 million, or 17 cents a share in the third quarter ended June 29, 2003, due to expansion. Results compare with a profit of $55.7 million, or 15 cents a share, in the third quarter last year. Revenue climbed 30 percent to $1 billion.
Starwood Hotels & Resorts (
HOT: chart), owner of the Sheraton, Westin and W lodging brands, posted a 61 percent rise in net profit in the second quarter due to the sale of some Italian properties. Net profit reached $290 million, or $1.41 a share, up from $180 million, or 87 cents a share in the same period a year ago.
Priceline.com (
PCLN: chart), the online travel and booking agent based in Norwalk, Connecticut, posted a 22 percent rise in second-quarter profit as more people reserved hotel rooms and rental cars. The company earned $7.7 million, or 20 cents a share, up from $6.3 million, or 16 cents in the year-ago period.
Bristol-Myers Squibb (
BMY: chart), the world's No. 8 drugmaker, reported second-quarter net income of $878 million, or 45 cents a share, up 83 percent from $479 million, or 25 cents a share in the second quarter of 2002. Revenue climbed 22 percent to $5.05 billion. Results were helped by sales of the company’s two top drugs, Pravochol and Plavix.
McKesson Corp. (
MCK: chart), a distributor of health-care products based in San Francisco, said its first-quarter profit rose 33 percent to $155.6 million, or 53 cents a share, from $117.3 million, or 39 cents a share a year ago. Revenue jumped 21 percent to $16.5 billion, reflecting strong sales from its pharmaceuticals unit.
Bausch & Lomb Inc. (
BOL: chart), maker of eye-care products, posted a 30 percent gain in second-quarter profits due to the U.S. dollar’s weakness in Japan and Europe. The Rochester, New York company earned $28.3 million, or 53 cents a share, up from $21.8 million, or 40 cents a share in the same year-ago period. Revenue jumped 12 percent to $512.5 million.
Marathon Oil Corp. (
MRO: chart) based in Houston, Texas saw its second-quarter profit surge 48 percent due to higher natural gas prices. Net income climbed to $248 million, or 80 cents a share, compared with $168 million, or 54 cents a share in the same period a year ago. Revenue was up 20 percent to $9.7 billion.