PayPal unit drives eBay higher
EBay said third-quarter net income rose 22 percent thanks to higher revenue at its PayPal payments service and at the marketplaces business. The results were roughly within expectations. Chief executive John Donahoe sounded an upbeat note about the holiday shopping season as eBay raised slightly its full-year guidance for net income and revenue. The online commerce company said it earned $597 million, or 45 cents per share, in the July-September period. That is up from $491 million, or 37 cents per share, a year earlier. Revenue grew 15 percent to $3.4 billion from $2.97 billion. On average, analysts expected $3.41 billion.