EBay Tops Third-Quarter Forecasts

SAN JOSE, United States — EBay Inc. on Wednesday reported third-quarter profit of $413 million.

The San Jose, California-based company said it had profit of 36 cents per share. Earnings, adjusted for stock option expense and amortization costs, were 45 cents per share.

The results surpassed Wall Street expectations. The average estimate of 30 analysts surveyed by Zacks Investment Research was for earnings of 44 cents per share.

The e-commerce company posted revenue of $2.22 billion in the period, which also topped Street forecasts. Thirty-one analysts surveyed by Zacks expected $2.18 billion.

For the current quarter ending in December, eBay expects its per-share earnings to range from 52 cents to 54 cents.

The company said it expects revenue in the range of $2.36 billion to $2.41 billion for the fiscal fourth quarter. Analysts surveyed by Zacks had expected revenue of $2.4 billion.

EBay expects full-year earnings in the range of $1.85 to $1.90 per share, with revenue ranging from $8.95 billion to $9 billion.

EBay shares have risen 18 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed almost 5 percent. In the final minutes of trading on Wednesday, shares hit $32.52, an increase of 32 percent in the last 12 months.