July 20, 2017 / 8:26 PM / 2 months ago

Ebay's profit plunges 94 pct

July 20 (Reuters) - EBay Inc on Thursday reported a nearly 94 percent fall in quarterly profit, hurt by higher expenses as well as income tax provisions.

Net income fell to $27 million, or 2 cents per share, in the second quarter ended June 30, from $435 million, or 38 cents per share, a year earlier.

During the quarter, the company recorded an income tax provision of more than $400 million, which dented profit. (Reporting by Aishwarya Venugopal in Bengaluru)

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