Updated from 4:18 p.m. EDTIt's eBay's ( EBAY) time to shine. Shares of the auction giant gained more than 5% in after-hours trading to cross the $41 mark after the company announced third-quarter results that trumped Wall Street's profit and revenue forecasts. eBay also boosted its outlook for the fourth quarter as well as the whole year. The strength of the company's auction business drove the strong results for the quarter. eBay's Marketplaces business saw revenue grow 26% year over year to $1.32 billion for the quarter. The strong revenue also came with a 5% slip in the number of listings on the site, suggesting that the company's recent efforts to cut low-quality listings to help user searches are paying off. The company's PayPal payment service also delivered a laudable performance. Revenue grew 35% year over year to $470 million, while the amount of funds transferred through the service grew 34% to $12.2 billion. PayPal's continued strength is particularly impressive considering Google ( GOOG) has been aggressively promoting its rival Checkout service. Despite that growing competition, "simply put, people prefer to use PayPal when they shop online," eBay CEO Meg Whitman said in a conference call for investors. And despite several setbacks over the quarter, the company's Skype telephony service also delivered a healthy performance, at least in terms of top-line growth. Revenue for the service grew 96% year over year to $98 million.