(AOF) – The world’s number one online auctioneer eBay delivered better-than-expected results last night and raised its annual targets. In the third quarter, eBay reported net income of $ 664 million, or 94 cents per share, compared to 310 million and 37 cents respectively a year earlier. Adjusted for one-time items and the impact of the divested classifieds business, earnings per share were 85 cents, beating expectations by 9 cents.
Revenues increased by 25% to $ 2.6 billion, also exceeding the consensus: $ 2.48 billion.
The value of transactions made on various eBay sites rose 22% to $ 25 billion.
On the strength of its good results, eBay has raised its annual targets. It is targeting adjusted earnings per share of between $ 3.34 and $ 3.40 compared to $ 3.04 to $ 3.16 previously. Revenues are expected to be between $ 10.04 billion and $ 10.11 billion, an increase of 19% to 20%, compared with the previous range of $ 9.59 to $ 9.78 billion, up 14% to 16%.
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