reported 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
, Digital River
and Mercury Interactive
beat estimates. Siebel
met estimates, and Manhattan Associates
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.
fell 5% ahead of its earnings due out after the close on Thursday, after reports of the company’s advertising projections were leaked.
fell 8% on lower than expected handset sales.
gained 3% after completing its first profitable year since 2000.
rose on its results, while StorageTek
and Silicon Image
declined on their results.
surged on their earnings reports.
fell on their reports.