Reuters: Global Markets: EBay second-quarter revenue climbs 23 percent

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EBay second-quarter revenue climbs 23 percent Jul 18th 2012, 20:49 Tweet Share this Email Print Related News Instant View: Intel presages weak PC market; Gelsinger CEO at VMWare Tue, Jul 17 2012 Gannett beats on profit, but ad sales still weak Mon, Jul 16 2012 Analysis & Opinion Investment banks’ Asian love affair cools rapidly Related Topics Hot Stocks » Asian Markets » Visitors chat next to the Ebay logo at the CeBIT computer fair in Hanover March 2, 2011. Credit: Reuters/Tobias Schwarz By Alistair Barr SAN FRANCISCO | Wed Jul 18, 2012 4:49pm EDT SAN FRANCISCO (Reuters) - EBay Inc (EBAY.O) posted better-than-expected quarterly results on Wednesday, and the operator of the world's largest online marketplace stuck to its full-year forecasts as it avoided a hit from Europe's economic woes. EBay said second-quarter revenue jumped 23 percent to $3.4 billion, while profit climbed 16 percent to $730 million, or 56 cents per share. That topped Wall Street forecasts. EBay's third-quarter revenue and profit forecasts were slightly below analyst expectations. But the e-commerce giant stuck with its full-year guidance from earlier this year. EBay shares have slipped in recent weeks on concern a weak European economy might dent buying and selling on the company's online marketplace -- and lucrative cross-border transactions in particular. However, eBay said its Marketplaces business generated its strongest organic growth since 2006 - and highlighted "strong growth" in Europe and the Asia-Pacific region. "The results were very good," said Gil Luria, an analyst at Wedbush Securities. "I don't think anybody in their wildest dreams thought Marketplaces would be growing this fast." Shares of eBay rose more than 5 percent to $42.54 in extended trading after the results. (Reporting by Alistair Barr) Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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