eBay Inc(NASDAQ:EBAY) shares are extending its gains in
after-hours after the largest online marketplace reported strong set of second
quarterly earnings, that easily topped analysts’ views.
On an adjusted basis, the company earned $730 million, or 56
cents a share in the latest quarter, up 16% year over year and topped analysts’
target by a penny. Revenue during the quarter grew 23% year over year, again ahead
of analysts’ forecast of $3.36 billion.
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Shares of the company had been under pressure recently on
back of increase concern that the company’s business could be hurt due to weak
economic development in the European region. But, the company confirmed that
its Marketplaces business witnessed its strongest organic growth since 2006 -
and highlighted "strong growth" in Europe and the Asia-Pacific
region.
The company continues to expect to earn 53 cents to 55 cents
on revenue range of $3.3 billion to $3.4 billion for the current quarter,
although below analysts’ target of 55 cents a share on revenue of $3.42 billion.
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"We delivered a great second quarter, driven by eBay
Marketplaces' best performance in years, strong growth at PayPal and strong
same-store-sales growth for GSI's large retail customers," said John
Donahoe, eBay Inc. President and CEO.
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