NEW YORK (TheStreet) -- eBay (EBAY - Get Report) shares are up 1.4% to $51.41 on Thursday after the company reported a 12.6% year over year quarterly increase in gross revenue to $4.37 billion.
The increased revenue was driven by a 5.5% jump in the revenue generated by the company's PayPal segment.
The company reported quarterly earnings of 69 cents per share, 1 cent better than analysts had anticipated.
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In separate news, the company also settled a six-year old lawsuit brought against it by apparel maker LVMH (LVMUY) who accused the online auction site of allowing users to sell knock offs of its high end brands.
TheStreet Ratings team rates EBAY INC as a Hold with a ratings score of C+. TheStreet Ratings Team has this to say about their recommendation:
"We rate EBAY INC (EBAY) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures and good cash flow from operations. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, disappointing return on equity and a generally disappointing performance in the stock itself."