eBay's Beat: Morning Tech Bytes

NEW YORK ( TheStreet) -- eBay ( EBAY) rose 2.5% in pre-market trading Thursday to $29.84, as the e-commerce giant topped Wall Street's fourth quarter earnings expectations.

eBay generated $559 million, or 42 cents a share, compared with $1.36 billion, or $1.02 a share in the year-ago period. Excluding costs related to the sale of its Skype business, eBay actually earned 52 cents a share.
eBay

Revenue rose 5% to $2.5 billion.

Analysts were calling for a profit of 47 cents a share on revenue of $2.48 billion.

Nokia ( NOK) was up 0.29% to $10.31, as the handset maker canceled the U.S. release of the X7 smartphone which was slated to launch exclusively this year with AT&T ( T).

Nokia decided not to release the phone because it believed it would not receive enough marketing support from AT&T, the Wall Street Journal reported, although Nokia plans to launch the X7 in other markets.

Amazon ( AMZN) has purchased European movie rental and streaming service Lovefilm, it was announced Thursday. Lovefilm, which has positioned itself as the Netflix ( NFLX) of Europe, was reportedly acquired for around $312 million. Amazon already owned 42% of the company.

Shares of Amazon fell 0.48% to $185.98.

Facebook has launched a new mobile application for feature phones, which will work on more than 2,500 devices. The app will give users access to friend updates, photos and synchronization of contacts.

Social gaming company Kabam has raised $30 million in its third round of funding, the start-up said Thursday. Kabam makes Facebook games like Kingdoms of Camelot and has around 7 million monthly users.

--Written by Olivia Oran in New York.

>To follow the writer on Twitter, go to http://twitter.com/Ozoran.

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