Tech

EBay Posts Higher 3rd Quarter Earnings, Revenue

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EBay headquarters in San Jose. (Justin Sullivan/Getty Images)

EBay headquarters in San Jose. (Justin Sullivan/Getty Images)

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SAN JOSE (CBS/AP) – EBay said Tuesday that its third-quarter net income grew 22 percent, helped by higher revenue at its PayPal payments service and the marketplaces business that includes eBay.com.

EBay Inc. said Wednesday that it earned $597 million, or 45 cents per share, in the July-September period. That’s up from $491 million, or 37 cents per share, a year earlier.

The company said revenue grew 15 percent to $3.4 billion from $2.97 billion.

Adjusted earnings were 55 cents per share in the latest quarter.

Analysts surveyed by FactSet were expecting earnings of 54 cents per share on revenue of $3.41 billion.

EBay sees fourth-quarter adjusted earnings of 66 cents to 69 cents per share. Analysts have predicted 68 cents. It is forecasting $3.85 billion to $4 billion in revenue. Analysts have expected $3.95 billion.

(Copyright 2012 by CBS San Francisco. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

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