** charts before earnings **
** after earnings **
EBay Inc. more than doubled its second-quarter net income thanks to higher revenue from its PayPal online payments business and its e-commerce websites.
The solid results, which came against the backdrop of the ongoing European economic turmoil, prompted investors to send the company's stock up nearly 6 percent in after-hours trading.
"We have been able to compensate for the softness in Europe with strong performance everywhere else," said CEO John Donahoe. EBay's business, he added, is benefiting from a "profound change" in the way people are shopping and paying, thanks to the popularity of smartphones and tablet computers. He called it "a staggering surge in mobile shopping and payments on devices that did not exist just a few years ago."
EBay earned $692 million, or 53 cents per share, in the April-June period. That's up from $283 million, or 22 cents per share, in the same period a year earlier.
Adjusted earnings were $730 million, or 56 cents per share, in the latest quarter — a penny above analysts' expectations.
Revenue grew 23 percent to $3.4 billion from $2.76 billion. Analysts, on average, were expecting revenue of $3.36 billion, according to FactSet.
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