EBay Sales Exceed Estimates on PayPal, Holiday Shopping
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EBay Inc., the largest Internet marketplace, reported sales and profit that topped analysts’ estimates, buoyed by a campaign to promote its expanded retail offerings and broader use of the PayPal online-payments service.
Fourth-quarter revenue rose 35 percent to $3.38 billion, EBay said yesterday in a statement. That compares with the average analyst estimate of $3.32 billion, according to data compiled by Bloomberg. Profit excluding certain items was 60 cents a share, compared with the average prediction of 57 cents.