eBay released their results with $0.31 per share earnings, well up on the $0.28 predicted by the analysts. Trading on NASDAQ closed up at $30 per share but immediately jumped after hours and are currently at $33.40
Revenue is up 29 percent at $1.72 billion with PayPal contributing $416.8 million or about 25% of income.
eBay reveal that they are looking to peripheral business for future revenue growth. PayPal is performing well with little effect from Google Checkout, Skype contributed $66 million and the StubHub purchase is designed to attract new users to the eBay group.
The conference call between eBay and investors discussing fourth quarter earnings looks to be interesting, but largely we expect a buoyant forecast for 2007 to be welcomed. Most importantly competition from both other auction sites and payment processors appear to be having little impact on eBay’s business.
