EBay Inc reported better-than-expected quarterly profit as the e-commerce company saw solid growth in its online marketplaces and an increase in transactions processed through its PayPal electronic payments business.<\/p>\n
The operator of the world’s largest online marketplace reported fourth-quarter net income of $2 billion, or $1.51 a share, compared with $559 million, or 42 cents a share, a year earlier. Revenue rose 35 percent to $3.38 billion.<\/p>\n
EBay recognized a big gain from the sale of its remaining stake in Skype during the fourth quarter. Excluding that and other items such as stock-based compensation expenses, profit was $788.6 million, or 60 cents a share, in the latest period, the company said.<\/p>\n
Analysts, on average, expected eBay to earn 57 cents a share on revenue of $3.32 billion, according to Thomson Reuters I\/B\/E\/S.<\/p>\n
EBay is riding a strong e-commerce growth wave as shoppers buy more items online and through smart phones and tablet computers.<\/p>\n
The company benefits from this trend because its online marketplaces charge fees on transactions and other activity. The company’s PayPal unit takes a small cut of a rising volume of electronic payments processed on its network.<\/p>\n
EBay shares were up slightly at $30.93 in after-hours trading. The stock closed at $30.34 earlier on Wednesday.<\/p>\n","protected":false},"excerpt":{"rendered":"
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