eBay on Thursday reported a third-quarter profit of $103.3 million, or 16 cents a share, up 69 percent from $61 million last year. The online auction company posted a revenue of $530.9 million, up 84 percent from a year ago. Excluding certain charges, eBay earned 18 cents a share, in line with Wall Street's expectations. The company attributed its strong revenue growth to a record number of subscribers and its PayPal payment service.
eBays shares, however, dropped in after-hours trading to $53.89. During the regular trading session, the stock fell 10 cents, or 0.17 percent, to end the day at $57.50. In reporting its results, the company said its pro forma earnings for the entire year could be as high as 72 cents a share. That's 3 cents below analyst estimates, according to First Call.