eBay Jumps 6% After Q4 Earnings Beat

eBay EBAY is up more than six percent after the popular auction site announced its fourth quarter results. The company reported a Q4 EPS of $0.81 versus the Street estimate of $0.63. Earnings per share were up 47 percent from the year-ago period. Revenue arrived at $4.5 billion versus the Street estimate of $3.9 billion. Sales were up 32 percent year-over-year. Looking ahead, eBay expects its Q1 sales to fall within the $4.15 billion and $4.25 billion range, which is slightly lower than the Street estimate of $4.3 billion. eBay projected FY2014 sales of $18 billion to $18.5 billion versus the Street estimate of $18.5 billion. During FY2015, eBay expects its sales to fall within the $20.5 billion to $21.5 billion range versus the Street estimate of $21.3 billion. In addition to its earnings, eBay announced that it had received a non-binding proposal from Carl Icahn to spin off Paypal. Two Icahn Enterprises IEP team members were nominated to the Board. Speaking to Bloomberg TV, Icahn said that eBay's earnings were "lagging" but referred to the company as a "value situation." He also said that eBay shares were a "no-brainer" but argued that the firm has not done as well as it should have "for itself." Disclosure: At the time of this writing, Louis Bedigian had no position in the equities mentioned in this report.