Wednesday October 17, 2012

EBay Posts Higher 3Q Earnings, Revenue

Imagine that, in a rotten economy, a company that makes money off people buying and selling used items is doing well. I'm shocked, shocked I tell you!

The online commerce company said Wednesday that it earned $597 million, or 45 cents per share, in the July-September period. That's up from $491 million, or 37 cents per share, a year earlier. Revenue grew 15 percent to $3.4 billion from $2.97 billion. Adjusted earnings were 55 cents per share in the latest quarter, slightly ahead of Wall Street's expectations.