eBay shares rocket on back of strong Q3 results

NEWS The company reported a 93.8 per cent increase in revenue on the same period last year, reaching at total of $113.4m. Net income jumped from $3m in Q3 1999 to $19.1m. According to a report in the Financial Times, shares rose just over eight per cent during official trading, but then gained dramatically after the bell to end at $66.75 - more than 25 per cent up on the pre-announcement price. Meg Whitman, president and CEO of eBay, said the results demonstrate the ongoing strength of the business model and the value of its online community.