Paypal, Online Auction | featured news

EBay Inc reported holiday quarter results that just beat Wall Street expectations, but the e-commerce company also gave a cautious forecast for 2013. EBay shares climbed 1.7 percent to $53.80 in after-hours trading following the announcement. Expectations were high ahead of the results because sales data from outside sources suggested strong sales growth from eBay's online marketplace and a solid increase in transactions processed by the company's PayPal payments business.

Shares in eBay jump almost 8% after the online auction site's Paypal unit said its revenues would double by 2013.

EBay's profit nearly quadrupled on strength in PayPal and the core marketplace business as well as a $1.4 billion gain from the selling a majority stake in Skype.