The online marketplace rocks The Street for Q4 after a transitional year that saw a shift in its core business.
eBay's transition from a pure online auction site to more of a wholesale liquidator and transaction-processing company paid nice dividends in its fourth quarter when it reported adjusted earnings of $585.8 million, or $0.44 a share, on sales of $2.37 billion -- a 16 percent improvement from the year-ago quarter.
eBay (NASDAQ: EBAY) shares closed off $1.03, or 4 percent, to $22.23 ahead of the earnings release but surged up $0.51, or 2 percent, to $22.74 in after-hours trading.
Analysts surveyed by Thomson Reuters predicted the San Jose, Calif.-based company would return adjusted earnings of $0.40 a share on sales of $2.28 billion.
Last quarter, eBay pocketed $349.7 million, or $0.27 a share, on sales of $2.24 billion.
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