eBay 3rd Quarter Income Climbs Above Expectations

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A sign outside EBay headquarters in San Jose. (AP)

SAN JOSE (CBS/AP) — EBay’s third-quarter net income climbed 14 percent, helped by growth in its online marketplace and PayPal online payment service, according to the company.

EBay Inc. CEO John Donahoe said both businesses were bolstered by increasing use of the company’s services over mobile devices— such as smartphones and tablet computers. This is still a small business for eBay, but one that has been growing rapidly.

For the July-September quarter, San Jose-based eBay said Wednesday that it earned $491 million, or 37 cents per share. This compares with $432 million, or 33 cents per share, a year earlier.

Excluding special items, the company earned 48 cents per share, which is what analysts polled by FactSet were expecting.

Revenue increased 32 percent to $3 billion, beating analyst expectations for $2.9 billion.

 

(Copyright 2011 by CBS San Francisco. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

 

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