ON THE MARKET EBay's stock value continues to rise

EBay revenue and profit were up 91 percent compared to last year.
SAN JOSE, Calif. (AP) -- EBay Inc. will split its soaring stock to help attract even more investors as the online auction giant reported yet another quarter of surging sales and profits.
The company also boosted an already bullish outlook Thursday as its stock hit a new 52-week high.
San Jose-based eBay said second quarter earnings were $152 million, or 33 cents per share, on revenue of $509.3 million, based on strong international sales and a surge in users who frequently visit and buy on eBay.
Revenue and profit both jumped 91 percent from the same quarter in 2002.
Without some items, which included payments to expand its San Jose headquarters, eBay earned 37 cents per share. That beat Wall Street's expectation of 35 cents per share on revenue of $505.9 million.
The results also beat the stated expectations of eBay executives, noted in Silicon Valley for conservative financial forecasts. They told investors to expect 33 cents per share on revenue of $500 million.
EBay shares hit a new 52-week high in regular trading Thursday, adding $1.60 to $115.74.
EBay's stock has one of the highest valuations of any company in the United States -- far greater than Microsoft Corp. and other technology titans -- and it has remained impervious to the dot-com stock market bust.
Stock to split
The stock's ascent this year, 71 percent, prompted eBay's board to announce a two-for-one split effective Aug. 28, for stockholders of record on Aug. 4.
"That should make the stock accessible to more investors," president and chief executive Meg Whitman said during a conference call.
Chief financial officer Rajiv Dutta said 2003 earnings per share could hit $1.47, up 6 cents from previous estimates.