SAN FRANCISCO (AP) — EBay Inc. reports its third-quarter earnings Wednesday after the market close, and the online marketplace operator is expected to report strong growth fueled by its namesake e-commerce site and PayPal payments service.
Wall Street is looking for adjusted earnings of 48 cents per share and $2.91 billion in revenue. In the year-ago quarter, eBay, based in San Jose, reported net income of 33 cents per share, or 40 cents per share excluding one-time items, on $2.2 billion in revenue.
Collins Stewart analyst Mayuresh Masurekar said he is expecting a solid report with results slightly better than Wall Street anticipates, thanks in part to increased growth in eBay’s U.S. marketplaces business, more online retailers offering PayPal as a payment method on their own non-eBay sites and more use of eBay’s services on mobile devices such as smartphones and tablet computers.
Masurekar holds a “Buy” rating and $43 price target for the stock.