EBay Inc loses $935.6 million: online auctioneer blames Skype deal

EBay Inc announced on Wednesday that they have suffered their first loss since they went public in 1998, and have blamed their recent Skype deal for the loss. According to the Chicago Tribune, the online auctioneer has lost $935.6 million in its third quarter, that’s 69 cents per share; compare that two this time last year when eBay made a net profit of $280.9 million.

The Skype Internet telephone division deal has been one long headache for eBay, but once the online auction company has put this bad business deal behind them the will come back stronger for it. Steve Weinstein who is an analyst who works with Pacific Crest Securities in Portland, Ore, has said that “Other than Skype, the rest of the business is doing very well.”

CLICK HERE to keep updated with the latest news, share a comment or problems with products and services. Follow us on twitter or read more news.