EBay restates quarterly profit to reflect lower income tax
By Staff Reporter | Feb 06, 2015 07:37 AM EST
EBay Inc (EBAY.O) raised its reported fourth-quarter net income by $87 million to reflect a reduction in income tax expense.
The e-commerce company said the reduction of tax was due to an intercompany transaction that took place in December.
After adjustment, eBay's net income rose to $1.02 billion from $936 million in the quarter ended Dec. 31. EBay reported its quarterly results on Jan. 21.
Most Popular
-
1
While American Workforce and Birth Rates Remain Low, Immigrant Workers Are Helping The U.S. Economy Thrive -
2
Luminar Experiencing A Downturn in Autonomous Vehicles Appeal, Cuts 20% Jobs in Extensive Production Restructuring -
3
US Major Retailers Blasted Mastercard, Visa, Urging Judge to Reject Long-Running Antitrust Settlement -
4
Turning Stress Into Challenge: Retraining The Brain to Overcome Burnout and Achieve Greater Happiness -
5
Strong Work Ethics: The No. 1 Skill Companies Require But Often Struggle to Find