eBay Inc. reported third quarter earnings and revenue after the bell Wednesday in its first report as a standalone company since officially splitting with PayPal over the summer.
As expected, the results were muted significantly in the absence of the high-growth PayPal business, howevever still above Wall Street estimates.
The San Jose, Calif.-headquartered corporation reported a net income of $545 million, or 45 cents per share (statement).
Non-GAAP earnings were 43 cents per share on revenue of $2.1 billion.
Wall Street was looking for earnings of 40 cents per share on revenue of $2.1 billion.
eBay CEO Devin Wenig touted eBay's solid results in light of what he called a "complex separation" with PayPal.
In addition to shedding PayPal, eBay is also without its Enterprise unit this quarter, after selling the business to a private equity firm ahead of the PayPal spin-off. So all told, eBay's Q3 is much lighter with far fewer moving parts.
The bulk of eBay's business now revolves around its commerce platforms, which saw a 5 percent year-over-year increase in buyer base to 159 million.
For the current quarter, eBay expects net revenues in the range of $2.2 to $2.3 million with EPS between 47 cents and 49 cents.