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Yep, for the paltry sum of almost 110 times earnings, all this and more can be yours. Step up folks, the auction is about to start! Just don't stumble on your way out, it's a long way to fall.


eBay Hits a Homer

...The company's second-quarter revenue rose 91% year over year, to $509 million, and operating income increased 91% to $152 million. Its operating margin was 30% (33% pro forma), edging ever closer to the 35% objective of 2005. Earnings per share clocked in at $0.33 ($0.37 pro forma), up 102%, while U.S. transaction revenue rose 45% and overseas auction revenue gained 146%.

eBay's operations generated $208 million in cash during the quarter, more than double last year's $92 million, but free cash flow dove due to the purchase of new office facilities -- a one-time event.

With more than $2 billion in sales expected this year, eBay is well on its way to reaching its goal of $3 billion in 2005 revenue. Meantime, the $110 stock trades at 74 times the company's improved guidance of up to $1.47 per share in pro forma 2003 earnings, and at a similar multiple to free cash flow.

The company set a 2-for-1 stock split payable on August 28.

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