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Shares of online retailer eBay Corp. (EBAY) traded sharply higher in after-hours trading following a stronger-than-expected fiscal fourth-quarter earnings report this afternoon.
The company reported earnings of 52 cents per share, beating the 47 cents that analysts had been expecting to see. During the same period last year the company had earnings of 44 cents.
Continue reading eBay Surges After Hours on Strong Earnings and Bullish Forecast
Ahead of the investor conference call starting in a few minutes, eBay announced second-quarter revenue of $1.411 billion and non-GAAP earnings per diluted share of $0.24. Wall Street will be entirely unsurprised, as this is exactly what analysts predicted.
Will it be enough to turn around today's (and, in fact, this year's) stock malaise? It seems as if investors are relieved; in after hours trading, the stock has recovered the day's losses and more, currently at $27.24 in after hours, up from a close of $25.93. Could this be the end of eBay's slide? Tune into the live coverage of the earnings conference call in a few minutes to learn more.
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