(By Balachander) eBay Inc. (NASDAQ: EBAY) posted quarterly earnings and revenue that beat market expectations, boosted by strong performance of its PayPal and marketplaces businesses. Yet the online auction site guided first quarter below consensus.
Non-GAAP earnings per share (EPS) increased 17 percent to 70 cents from 60 cents in the year-ago quarter. GAAP earnings plunged 62 percent to $751 million with total operating expenses rising 19 percent.
Revenue jumped 18 percent to $3.99 billion, with PayPal revenue surging 24 percent.
Wall Street analysts, on average, expected EPS of 69 cents on revenue growth of 17.60 percent to $3.98 billion for the fourth quarter.
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PayPal reported 122.7 million active registered accounts in the quarter, up 15 percent from the same period of last year.
At eBay's marketplaces business, gross merchandise volume (GMV) excluding vehicles gained 16 percent.
Non-GAAP operating margin contracted to 28.5 percent from 28.7 percent, hit by the impact of acquisitions.
Looking ahead for the first quarter, eBay sees non-GAAP EPS between 60 cents and 62 cents on revenue in the range of $3.65 billion to $3.75 billion. Analysts expect EPS of 63 cents per share on revenue of $3.79 billion.
For the full year 2013, the company expects non-GAAP EPS in the range of $2.70 to $2.75 on revenue between $16.0 billion and $16.5 billion. Analysts expect EPS of $2.74 on revenue of $16.30 billion.
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The stock, which has been trading between $29.89 and $54.20 over the past year, ended Wednesday's regular trading at $52.90.