eBayreported yet another quarter of blistering growth after the close on Wednesday.
The online auction king beat estimates by a penny with 28-cent earnings, and revenues surged 52% to $806 million, topping forecasts by a cool $25 million. The company also raised fourth-quarter guidance to 33-cent earnings on sales of $915 million.
But the company delivered a sobering outlook for 2005. eBay said it expects to earn $1.50 next year, which would come in below $1.61 forecasts, on revenues of as much as $4.2 billion, below analysts’ $4.29 billion estimates.
Still, investors were so pleased with the company’s strong third-quarter numbers that they bid the stock more than 2% higher in after-hours trading.
Also after the close, Symantec, CA, VeriSign, Macromedia, RealNetworks, Citrix, Digital River, SunGardand Mercury Interactivebeat estimates. Siebel, PMC-Sierraand Intersilmet estimates, and Manhattan Associateswarned.
Stocks overcame a steep decline during the day on rising oil prices and disappointing results from J.P. Morgan, as a rally in tech stocks saved the blue chips once again.
The Nasdaq climbed 10 to 1932, the S&P 500 edged half a point higher to 1103, and the Dow lost 10 to 9886. Volume declined to 1.69 billion shares on the NYSE, and 1.67 billion on the Nasdaq. Advancers led 17-15 on the NYSE, and 17-13 on the Nasdaq. Upside volume was 51% on the NYSE, and 60% on the Nasdaq. New highs-new lows were 40-73 on the NYSE, and 56-77 on the Nasdaq.
Googlefell 5% ahead of its earnings due out after the close on Thursday, after reports of the company’s advertising projections were leaked.
Motorolafell 8% on lower than expected handset sales.
Lucentgained 3% after completing its first profitable year since 2000.
Monsterrose on its results, while StorageTek, Freescaleand Silicon Imagedeclined on their results.
Entrust, FileNetand SigmaTelsurged on their earnings reports.
Seagate, Aspect, Cymer, Parametricand Aetriumfell on their reports.