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.
