eBay revised up its 2014 earnings thanks to lower taxes. And so the online auction site is back in profit compared to the annual loss previously communicated. The group also revised up its fourth-quarter earnings, which were released last January, again to reflect a reduction (from $87 million) in taxes. eBay explained that it underestimated the tax relief linked to a transaction that took place within the group in December.
For the year ended Dec. 31, eBay posted profits of $46 million, 4 cents a share, from a loss of $41 million, three cents a share. For the final three months of 2014, the group saw profits of $1,02 billion, 82 cents a share, up from $936 million, 75 cents.
Last month eBay announced plans to cut 2.400 jobs, add three members to its board of directors and explore the sale or spin-off of its eBay Enterprise division, which helps companies with online sales, ahead of the its breakup later in the year. In the pre-market thiol slips by 0,29%.
