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EBay Results Top Estimates

Posted by Sara | Online Shopping | Thursday 19 January 2012 10:47 pm

EBay Results Top EstimatesA higher-than-expected quarterly profit on solid growth in its online marketplaces and an increase in transactions processed through its PayPal electronic payments business was reported by EBay Inc.

The shares of the e-commerce company were up nearly 2 percent in after-hours trading, even though the company offered a cautious outlook for first-quarter profit and revenue.

EBay 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. The company forecast first-quarter profit of 50 cents or 51 cents a share and revenue of $3.05 billion to $3.15 billion and added profit for 2012 will be $2.25 to $2.30 a share and revenue will be $13.7 billion to $14 billion.

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