EBay Forecasts 2011 Revenue That May Exceed Estimates
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EBay Inc., owner of the largest e-commerce market, said sales this year may rise more than analysts estimated, signaling progress on a turnaround effort at its main site and growing demand for the PayPal payment service.
Sales in 2011 will be as high as $10.6 billion, the San Jose, California-based company said today in a statement. Excluding stock-option costs and other expenses, profit will be $1.90 to $1.95 a share. Analysts in a Bloomberg survey projected, on average, revenue of $10.2 billion and earnings of $1.86. Shares gained in extended trading.