For the third-quarter ending Sep. 30, eBay earned 55 cents a share on a non-GAAP basis, on $3.4 billion in revenue. Analysts polled by Thomson Reuters expected the online auction services company to generate 54 cents a share on $3.4 billion in revenue.
"We had a great third quarter across our company, with Marketplaces and PayPal accelerating customer growth," said eBay CEO John Donahoe. "Mobile continues to be a game changer for us, and we continue to be a clear leader in mobile commerce and payments."
The third quarter was helped by PayPal, which saw revenue increase 23% year-over-year, with total payment volume rising 20% over the same period to reach $35.2 billion. Clearly, the mobile payment wars are continuing to heat up.PayPal competitor and mobile payments system Isis announced it would be rolling out on Oct. 22, with some 20 handsets initially supporting it. Isis is a joint venture between AT&T (T), T-Mobile USA and Verizon (VZ). eBay also provided fourth-quarter outlook and guidance for the rest of 2012. The company expects non-GAAP earnings between 66 and 69 cents a share on $3.85 billion to $4 billion in sales. GAAP earnings are expected to be between 55 cents and 58 cents a share. Analysts polled by Thomson Reuters expect earnings of 68 cents a share on $3.94 billion in revenue. For the full year, eBay expects full-year revenue between $13.95 billion and $14.1 billion, with non-GAAP earnings between $2.32 and $2.35 a share. Analysts polled by Thomson Reuters expect earnings of $2.34 a share on $14.02 billion in revenue. eBay bought back $47 million worth of common stock in the quarter, and ended the quarter with $10.8 billion in cash and cash equivalents. The company will hold a conference call at 5 P.M. EST to discuss the results. Shares of eBay closed down in Wednesday trading, falling 0.15% to close at $48.17. Shares are moving lower in after-hours trading, losing 0.52% to $47.95 on 2 million shares according to Nasdaq.com. Interested in more on eBay? See TheStreet Ratings' report card for this stock. -- Written by Chris Ciaccia in New York >Contact by Email. Follow @Commodity_Bull
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