EBay Posts 44% Jump in Profit; Forecast Is Tepid

Online auctioneer eBay Inc. said fourth-quarter net income rose 44%, but this narrowly missed Wall Street expectations. The rare stumble, and a lukewarm financial forecast for this year, sent its high-flying shares down 12% in after-hours trading.

The San Jose, Calif., company reported net income of $205.4 million, or 30 cents a share, up from $142.5 million, or 21 cents, in the comparable period last year. The result matched the company's forecast.

Excluding the amortization of intangibles and some stock-option expenses, eBay said it would have reported income of 33 cents a share -- one cent less than the average ...