EBay 3Q Earns Top Views; Revenue Misses

By: AP Email
By: AP Email

SAN JOSE, Calif. (AP) - EBay says its third quarter profit grew 15 percent as revenue rose, thanks to increasing mobile transactions in its online marketplaces eBay and StubHub and growth in the number of people using its PayPal payments processor.

In the quarter through September, EBay's net income grew to $689 million, or 53 cents per share, from $597 million, or 45 cents per share, a year ago.

Excluding special items, adjusted earnings came to 64 cents per share, a penny better than expected by analysts polled by FactSet.

Revenue rose 14 percent to $3.89 billion, slightly below the $3.91 billion analysts were looking for.

EBay's outlook for the current quarter was below analysts' expectations for profit and revenue.

Following the release of results, EBay's stock fell 4.5 percent to $51.09 in after-hours trading.

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