Source AP ©

EBay to take $1.43 billion impairment charge in 3Q

Online auctioneer eBay Inc. said Monday it will take an impairment charge of about $1.43 billion (EUR1 billion) in its third quarter, due in part to payments it made to some Skype shareholders as part of an earn-out agreement.

EBay said it paid $530 million (EUR372.4 million) to settle future obligations it had with some shareholders under an agreement that stemmed from its 2005 purchase of Skype.

EBay anticipates recording this amount and an additional $900 million (EUR632 million) as impairment charges in its third-quarter financial report.

Under the earn-out agreement, eBay was required to pay up to about $1.7 billion (EUR1.19 billion) based on things like Skype's number of active users and sales and gross profit targets in 2008 and the first half of 2009.

EBay shares rose 35 cents, or 0.9 percent, to $39.37 in morning trade Monday.

Comments
Unexploded Western missiles in Russia's hands: Russian air defenses to get even better
USSR shot down Korean passenger Boeing 40 years ago. Chronicles
USA highly concerned about Russia's cold-blooded silence in response to missile attack on Syria
The Geo-political board game: Predicting the next move
The Geo-political board game: Predicting the next move
The Geo-political board game: Predicting the next move
The Geo-political board game: Predicting the next move
Turkey withdraws its gold from USA
Turkey withdraws its gold from USA
Turkey withdraws its gold from USA
The Geo-political board game: Predicting the next move
The Geo-political board game: Predicting the next move
The Geo-political board game: Predicting the next move
The Geo-political board game: Predicting the next move
War between USA and Russia will break out only if Americans cross Russia’s red lines
Russia to introduce criminal responsibility for those implementing anti-Russian sanctions
Russia to introduce criminal responsibility for those implementing anti-Russian sanctions
Russia to introduce criminal responsibility for those implementing anti-Russian sanctions
USSR shot down Korean passenger Boeing 40 years ago. Chronicles
Defending the Social Media with the four-letter word
Defending the Social Media with the four-letter word