eBay Inc.
EBay profit tops estimates, but sales miss

EBay Inc. on Wednesday reported better-than-expected earnings for the third quarter but cut its sales forecast for the year. Shares dropped 3 percent after-hours. The company's PayPal business had another strong quarter. Revenue grew 20 percent to $1.95 billion and mobile payment volume jumped 72 percent to $12 billion. PayPal remains on track to process 1 billion mobile transactions this year. Earlier this month eBay said it would split off the payment processor, its fastest growing unit, late next year. The marketplaces business grew revenue 6 percent to $2.16 billion, and gained 3.4 million new buyers to end the quarter with 152 million active buyers, up 13 percent. The San...