(eBay article updated to correct mistake in original article. The original article transposed the unadjusted and adjusted EPS figures. New version corrects that mistake.)

NEW YORK (

TheStreet

) -- After preannouncing that earnings would come in at the high-end of its forecast,

eBay

(EBAY) - Get Report

blew past estimates.

During the quarter, the Internet retailer earned $432 million, or 33 cents a share, compared with $350 million, or 27 cents, in the year-ago period.

Excluding one-time items, eBay actually earned 40 cents a share, three cents more than Wall Street's forecast. eBay originally said it expected earnings in the range of 35 cents to 37 cents per share.

Revenue reached $2.25 billion, also ahead of estimates of $2.18 billion.

The majority of this growth came from PayPal, which saw revenue surge 22% to $838 million.

Looking ahead, eBay expects fourth-quarter revenue between $2.39 billion and $2.49 billion. It's calling for non-GAAP profit in the range of 45 cents to 48 cents a share.

Shares of eBay are surging 6.4% to $27.33.

-- Written by Jeanine Poggi in New York.

>To contact the writer of this article, click here:

Jeanine Poggi

.

>To follow the writer on Twitter, go to

http://twitter.com/jpoggi

.

>To submit a news tip, send an email to:

tips@thestreet.com

.