The following is an excerpt from Rex Crum | April 19, 2012 | MarketWatch |
SAN FRANCISCO (MarketWatch) — EBay Inc. shares climbed more than 16% Thursday, hitting a four-year high as investors cheered the online retailer’s quarterly results and outlook. At least three analysts raised their ratings on the company’s stock.
EBay EBAY +12.85% rose $5.85 to $41.73 a share and hit levels not seen since October 2007. The impetus for the gains was the company’s fiscal first-quarter earnings and its full-year forecast, which eBay reported late Wednesday.
EBay reported a profit of $570 million, or 44 cents a share, on $3.3 billion in revenue. During the same period a year ago, the company earned $476 million, or 36 cents a share, on sales of $2.55 billion. Excluding one-time items, the company would have earned $725 million, or 55 cents a share.
Analysts surveyed by FactSet Research had forecast eBay to earn 52 cents a share on $3.15 billion in revenue.
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