Internet auction giant eBay Inc. revised its second quarter 2003 results downward Monday following a judge's decision last week to uphold a verdict against the company in a patent suit.
EBay said that it is amending its results to reflect an operating charge of US$30 million and related tax benefit of $12.1 million.
The San Jose, California, company said that its net income for the quarter ended June 30 has been revised to US$91.9 million from US$109.7 million before taking the charge.
The revision comes in light of a federal court's decision to uphold a multimillion-dollar jury award given to MercExchange LLC last May. The jury originally ordered eBay to pay MercExchange and its founder Thomas G. Woolston $35 million for violating patents related to e-commerce, but the damages were trimmed to US$29.5 million earlier this month.
EBay still believes the trial court verdict was incorrect and intends to appeal the court's judgment, it said Monday in a statement.
The company also said that it was sticking to its previously announced third-quarter and fourth-quarter guidance.