quote:SAN FRANCISCO (MarketWatch) - EBay Inc. jumped 11% Wednesday evening after the online auctioneer's quaterly sales beat Wall Street's forecast and the company said it approved the buyback of another $2 billion in shares. Stock in Netflix Inc. also surged after its earnings surpassed analysts' expectations.
The Nasdaq-100 After Hours Indicator, which tracks evening trading of the index's leading technology stocks, rose 7.7 points to 1,810.34.
EBAY surged 11% to $33.19 and was the busiest stock in terms of volume, according to Nasdaq. The company said sales rose 29% to $1.72 billion, above its own forecast and that of analysts polled by Thomson First Call, who had expected sales of $1.67 billion.
Net income rose to $346 million, or 25 cents a share, from $279.2 million, or 20 cents a share, from a year earlier. Excluding employee stock option costs, eBay said it would have earned 28 cents a share, in line with its own forecast. EBay also said it would repurchase another $2 billion of its stock over the next two years.