EBay Soars as Forecast Exceeds Analysts’ Estimates
This article is for subscribers only.
EBay Inc., owner of the second-most visited e-commerce site, had its biggest gain in 15 months in Nasdaq trading after forecasting fourth-quarter sales and earnings that exceeded analysts’ estimates.
Sales will be $2.39 billion to $2.49 billion this quarter, EBay said yesterday when it reported third-quarter results. Excluding stock-option costs and other expenses, profit will be 45 cents to 48 cents a share. Analysts in a Bloomberg survey had projected revenue of $2.41 billion and earnings of 44 cents.