* EBay fourth-quarter revenue, profit slightly exceed
* 2013 guidance in line with Wall Street estimates
* Shares climb 1.7 pct in after-hours trading
By Alistair Barr
SAN FRANCISCO, Jan 16 EBay Inc reported
holiday quarter results that just beat Wall Street expectations,
but the e-commerce company also gave a cautious forecast for
EBay shares climbed 1.7 percent to $53.80 in after-hours
trading following the announcement.
Expectations were high ahead of the results because sales
data from outside sources suggested strong sales growth from
eBay's online marketplace and a solid increase in transactions
processed by the company's PayPal payments business.
EBay's online marketplace, one of the largest in the world,
has lagged behind the growth of e-commerce and Amazon.com Inc
for several years. But under Chief Executive John
Donahoe, eBay has invested to improve the buying experience by
upgrading search capabilities and prodding sellers to provide
more services such as free shipping and easier returns.
The explosive growth of mobile shopping and popular mobile
shopping applications have also attracted hundreds of thousands
of new consumers to eBay's marketplace in the past year.
"These are great numbers," said Bill Smead of Smead Capital
Management, which owns eBay shares. "The marketplace business
used to be a noose around their neck, but now it's a key
destination for people wanting to buy new goods as well as
Amazon shares edged up less than 1 percent to $269.31 in
after-hours trading, close to a record. The world's largest
Internet retailer is due to report fourth-quarter results on
On Wednesday, eBay said fourth-quarter revenue jumped 18
percent to $3.99 billion. Profit came in at $927 million, or 70
cents a share, in the period. That compares with profit of $789
million, or 60 cents a share, in the same quarter last year.
EBay was expected to earn 69 cents a share on revenue of
$3.98 billion, according to Thomson Reuters I/B/E/S.
EBay forecast 2013 revenue of $16 billion to $16.5 billion
and profit of $2.70 to $2.75 a share. Wall Street was calling
for revenue of $16.3 billion and profit of $2.74 a share,
according to Thomson Reuters I/B/E/S.