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News Summary: EBay more than doubles 2Q earnings

Wednesday - 7/18/2012, 7:58pm  ET

By The Associated Press

(AP) - STRONG QUARTER: 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.

MOBILE BOOST: The growth of mobile shopping did and will likely continue to help increase eBay's earnings. The company expects eBay and PayPal to each conduct $10 billion in transactions in 2012, more than double 2011's transactions.

SHARES UP: EBay's stock climbed $1.90, or 4.7 percent, to $42.36 in after-hours trading. The stock had closed up $1.39, or 3.6 percent, at $40.46 _ up 33 percent year-to-date.

(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)