Ebay reported earnings this evening and beat by a penny. (EBAY), today reported that revenue for the second quarter ended June 30, 2012 increased 23% to $3.4 billion, compared to the same period of 2011. The company reported second quarter net income on a non-GAAP basis of $730 million, or $0.56 per diluted share, up 16% year over year primarily due to strong top-line growth partially offset by increased investment in the shopping experience and the impact of acquisitions. GAAP net income of $692 million, or $0.53 per diluted share, reflected a gain on the divestiture of a business in 2012 and increased significantly year over year due to a loss from the divestiture of certain GSI businesses and GSI transaction-related expenses in the second quarter of 2011.
Ebay knifed through support yesterday during the Bernanke selloff but recovered shortly thereafter. It is trading slightly higher in after hours. I am long and may consider adding here. Stop goes right below $38.