eBay up some 9% in after-hours after it beats estimates

Posted Jan 24th 2007 4:40PM by Melly Alazraki
Filed under: After the Bell, Major Movement, Earnings Reports, SEC Filings, Live Coverage, eBay (EBAY)

After closing up 4.8% today, eBay Inc. (NASDAQ:EBAY) is climbing some 9% in after hours after the release of its fourth quarter financial results.

Sales during the quarter rose 29% to $1.72 billion, topping guidance and analysts expectations of $1.67 billion.

Profit rose 24% to $346 million, or 25 cents a share, from $279.2 million, or 20 cents from a year earlier. Despite analysts expecting 28 cents, eBay said it would have earned that excluding employee stock option costs, representing a 35% growth.

And while the company said it repurchased approximately 31 million shares of its common stock at a total cost of approximately $1.0 billion during the quarter, it also announced another repurchase program.

Finally, guidance for 2007 seems to top the Street's expectations as well.

Also check out some other earnings reports that we're following, and let us know your thoughts on earnings expectations.

Tags: ebay