Investors gave their blessing to eBay's turnaround Wednesday, sending the stock of the San Jose auctioneer soaring after it trounced Wall Street's expectations for the second quarter in a row.
Not only were revenue and earnings more robust than analysts had anticipated, but eBay also expanded its operating margin and accelerated the growth of the total value of items sold on its marketplace.
EBay's fourth-quarter net income rose 24 percent to $346 million, or 25 cents a share. Excluding stock-based compensation and other expenses, eBay said net income increased 27 percent to $431 million, or 31 cents a share, three cents above Wall Street estimates.
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