Wednesday, October 17, 2012

eBay Inc(NASDAQ:EBAY) Shares Fall In After Hours After Earnings

Shares of eBay Inc(NASDAQ:EBAY) slid about 2.60% to $47 in after-hours despite the company posted higher than estimated profit and in line revenue in its third quarter.

During the quarter, the company earned $597 million, or $0.45 a share, up 22% year over year. On an adjusted basis, the company earned $718 million, or $0.55 a share, a penny higher than analysts’ estimates of 54 cents a share.

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The company generated revenue of $3.4 billion, increased 15% year over year, in line with analysts’ estimate.

PayPal continued to perform better with 117.4 million active registered accounts, a 14% increase over the third quarter of 2011. Revenue increased 23% year over year and net total payment volume (TPV) grew 20% year over year to $35.2 billion.

Marketplaces’ Gross merchandise volume (GMV), excluding vehicles, increased 11% year over year to $16 billion in the third quarter of 2012. Marketplaces revenue increased 9% year over year, driven by strong growth in the United States and Asia Pacific

"We had a great third quarter across our company, with Marketplaces and PayPal accelerating customer growth," said John Donahoe, eBay Inc. President and CEO. "Mobile continues to be a game changer for us, and we continue to be a clear leader in mobile commerce and payments. With our strong portfolio and global reach, we are consistently demonstrating our capabilities to help consumers shop anytime, anywhere. And we are enabling retailers of all sizes to compete in a rapidly evolving, multichannel commerce environment."

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