Pursuits
EBay Revenue Beats Estimates After Increase in U.S. Sales
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EBay Inc., the world’s largest Internet marketplace, gained the most in three months after reporting sales and profit that beat analysts’ estimates as more U.S. consumers shopped for new items on the site.
EBay rose 7.9 percent to $43.65 at 10:01 a.m. in New York, for the biggest increase since April 19. Second-quarter revenue climbed 23 percent to $3.4 billion, the company said yesterday. That exceeded the $3.36 billion average analyst estimate compiled by Bloomberg. Profit excluding some items was 56 cents a share, topping the 55-cent prediction.