Ebay, operator of the largest online marketplace, reported a quarterly revenue increase of 32 per cent and profit that matched analysts' expectations today.
Ebay shares fell 5 per cent to $31.45 in after-hours trading following the announcement.
Ebay reported third-quarter net income of $490.5 million, or 37 cents a share, compared to $432 million, or 33 cents a share, a year earlier.
Excluding stock-based compensation expenses and other items, profit was $628.2 million, or 48 cents a share, in the latest period, the company said. Revenue climbed 32 per cent to $2.97 billion.
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Ebay was expected to earn 48 cents a share on revenue of $2.91 billion, according to Thomson Reuters analysts.
Reuters
