EBay Inc is preparing to bring a major portion of its foreign earnings back into the United States, hoping to bankroll acquisitions and drive an expansion into mobile payments and other high-growth areas as its core business matures.Ebay, which on Tuesday forecast lower-than-expected earnings this quarter, also plans to ramp up its marketing spending on PayPal, which is an Internet leader but faces stiff competition in the fledgling smartphone payments market.The company took a $3 billion non-cash tax charge in the first quarter. The move will allow eBay to boost its available U.S. cash by about $6 billion, when needed.It ended the first quarter with cash, cash equivalents and nonequity investments of $11.9 billion, though just $2.2 billion of that is in the United States.
eBay Inc., is a global technology company. The Company enables commerce through three reportable segments: Marketplaces, Payments, and GSI. Shares of EBAY traded higher by 1.68% or $0.9/share to $54.54. In the past year, the shares have traded as low as $48.06 and as high as $59.70. On average, 11244200 shares of EBAY exchange hands on a given day and today's volume is recorded at 13908837.
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