Online auction house eBay beat Wall Street's expectations by a penny for its fiscal second quarter despite a 22 hour outage during the period. The company attributed the growth to increased activity on its site, and claimed the number of registered users increased to 5.6 million from 1.7 million, while hosted auctions rose to 29.4 million from 22.9 million in the same period last year. Meg Whitman, eBay’s president and chief executive, said: "We have tremendous momentum in our flagship business. Our customers now transact well over $200 million in gross merchandise sales per month, making this the most vibrant consumer ecommerce site on the entire Internet." eBay’s revenues for the period, which ended on 30 June, shot up $30 million to $49.5 million, net of the $3.9 million that the firm reimbursed its customers for the outage that happened on 10 June. Excluding one off merger and related charges, net profits hit $5.1 million or $0.04 per share down from $5.2 million or $0.05 per share last time. Net profits, after charges, were $816,000 or $0.01 per share, but the First Call analysts’ consensus had expected earnings per share of $0.03.
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