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21/10/2010

EBay results beat Street view

SAN FRANCISCO (Reuters) – EBay Inc posted higher-than-expected earnings, helped by double-digit growth at PayPal and a modest rise in revenue at the e-commerce company's main marketplaces unit.

The company said third-quarter net profit was $431.9 million, or 33 cents per share, from $350 million, or 27 cents per share, a year earlier.

Excluding Web telephone unit Skype, which the company sold, earnings were 40 cents per share, above the 37 cents expected by analysts, according to Thomson Reuters I/B/E/S.

Revenue rose 1 percent to $2.25 billion, the company said, above the $2.18 billion that analysts expected.

EBay expects fourth-quarter revenue to range between $2.39 billion and $2.49 billion on adjusted earnings per share of 45 cents to 48 cents.

Shares rose 6.2 percent to $27.25 after closing at $25.66 on the Nasdaq.

(Reporting by Alexandria Sage. Editing by Robert MacMillan)

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