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RealTime IT News

eBay Returns to Form

eBay returned to form after the close on Wednesday, posting earnings and guidance that were well ahead of Wall Street expectations.

eBay's pro forma earnings of 22 cents a share topped analysts' estimates by four cents, and sales surged 40% to $1.09 billion, also ahead of forecasts. eBay also boosted its full-year guidance to 82-83 cents a share on revenues of $4.34-$4.41 billion, both above forecasts.

"eBay achieved remarkable results in Q2," CEO Meg Whitman said in a statement. "Excellent momentum in the U.S. and Germany, as well as at PayPal, all helped deliver an impressive jump in revenues and profit."

Shares of eBay soared 14% after hours.

Also after the close, Qualcomm , Macromedia , QLogic and VeriSign beat estimates.

Stocks rose during the day despite disappointing results from Intel , Yahoo and GM .

The Nasdaq gained 15 to 2188, the S&P rose 5 to 1235, and the Dow climbed 42 to 10,689. Volume rose to 2.06 billion shares on the NYSE, and 2.03 billion on the Nasdaq. Advancers led 22-10 on the NYSE, and 20-10 on the Nasdaq. Upside volume was 65% on the NYSE, and 63% on the Nasdaq. New highs-new lows were 323-18 on the NYSE, and 208-17 on the Nasdaq.

Intel , Yahoo , Juniper , Unisys and Seagate fell on their results.

Novellus , Motorola , Cymer and Epicor gained on their earnings reports.