eBay Profits Rise But Miss Analyst Estimates

Auction website eBay reported third quarter earnings of $491 million, an increase of 14 percent from their earnings of $432 million in the same quarter last year.

The company, which owns PayPal and GSI among other services, brought in $3 billion in total revenue, up 32 percent from the prior year.

Our company reported another strong quarter with eBay, PayPal and GSI each performing well, eBay President and CEO John Donahoe said in an earnings statement.

Donahoe pointed to an increase in mobile commerce, saying, ...we expect eBay mobile commerce to generate almost $5 billion in merchandise volume this year and PayPal mobile to exceed 3.5 billion in payment volume.

Paypal now has 103 million active registered accounts, a 14 percent increase year over year.

We are focused on enabling commerce, helping consumers shop anytime, anywhere, and being the commerce partner of choice for retailers of all sizes, Donahoe said.

Despite all of this, shares of eBay were down 3.62 percent to $31.98 at market close, since the results were slightly below analyst estimates.

It was a good quarter; not a blowout quarter, Colin Sebastian of Robert W. Baird told Marketwatch.

Write to Samuel Weigley at s.weigley@ibtimes.com.