eBay Projects Annual Profit That Tops Analysts’ Estimates
- Quarterly earnings beat by 1 cent while revenue meets mark
- Active customers increased 4% percent to 177 million worldwide
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EBay Inc. gave an upbeat profit forecast for the rest of the year, signaling a busy holiday quarter and calming investor fears about slowing sales. The shares gained about 3 percent Wednesday morning.
Earnings, excluding some items, will be $2.29 a share to $2.31 a share for the year, the San Jose, California-based company said Tuesday in a statement. The profit outlook topped analysts’ average estimate of $2.28. Third-quarter adjusted earnings were 56 cents a share. Analysts’ projected 55 cents a share.