EBay: 3Q Earnings Snapshot

Associated Press
Updated

SAN JOSE, Calif. (AP) _ EBay Inc. (EBAY) on Wednesday reported third-quarter profit of $310 million.

The San Jose, California-based company said it had net income of 37 cents per share. Earnings, adjusted for one-time gains and costs, came to 67 cents per share.

The results beat Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of 65 cents per share.

The e-commerce company posted revenue of $2.65 billion in the period, which also topped Street forecasts. Eleven analysts surveyed by Zacks expected $2.64 billion.

For the current quarter ending in December, eBay expects its per-share earnings to range from 73 cents to 76 cents.

The company said it expects revenue in the range of $2.77 billion to $2.82 billion for the fiscal fourth quarter. Analysts surveyed by Zacks had expected revenue of $2.85 billion.

EBay expects full-year earnings in the range of $2.75 to $2.78 per share, with revenue ranging from $10.75 billion to $10.8 billion.

EBay shares have climbed 40% since the beginning of the year, while the Standard & Poor's 500 index has climbed 20%. In the final minutes of trading on Wednesday, shares hit $39.20, a rise of 39% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on EBAY at https://www.zacks.com/ap/EBAY