EBay shares fall despite good quarter results

EBay (EBAY.US) earned 85 cents per share for its latest quarter, up from 53 cents a year ago. Meanwhile analysts' expected earnings of 77 cents per share. Revenue of $2.61 billion also beat market estimates of $2.48 billion. “Our third-quarter performance reflects the strength of our newly focused strategy coupled with the enormous untapped potential of our marketplace,” Chief Executive Jamie Iannone said in a statement. However stock dropped 9% after company reported only 183 million active buyers during the quarter, about 3 million below projections. For the fourth quarter, eBay anticipates $2.64 billion to $2.71 billion in revenue and 78 cents to 84 cents in adjusted EPS. Analysts had been expecting $2.54 billion in revenue and 76 cents in EPS.

EBay (EBAY.US) stock launched today's session with a bearish price gap. Buyers tried to push higher but resistance located at $50.00 turned out to be too strong and price pulled back. If the current sentiment persists, then support at $47.25 could be at risk. Source: xStation5

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