eBay Inc. shares are climbing 1 percent higher after the closing bell. The company announced net income of $1.98 billion ($1.51 per share), compared to $559 million (42 cents per share) last year. Earnings were helped by selling Skype, which is now owned by Microsoft .
F5 Networks Inc. shares are surging more than 7 percent in extended trading. The company announced positive earnings and outlook. Net income came in at $66.5 million (83 cents per share), compared to $55.7 million (68 cents per share) last year. For the current quarter, the company said it expects revenue in the range of $332 million to $337 million, and adjusted earnings of $1.05 to $1.07 a share. Analysts were expecting earnings of $1.05 from revenue of $331 million.
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After closing up 7.45 percent on Wednesday, shares of Pandora Media Inc. continue to climb .70 percent in late trading. Raymond James initiated coverage at outperform, and placed a price target of $15 per share. Traditional radio outlets such as CBS and CC Media Holdings (CCMO) are flat after the closing bell.
Educational stocks such as DeVry Inc. , Apollo Group Inc. and Capella Education Co. fell sharply Wednesday. Research firm Height Analytics said that President Obama might reduce the threshold for military funding, which would include college loans. However, Morgan Stanley says the stock declines are an “overreaction.”
Shares of Xilinx Inc. are jumping 7.3 percent in extended trading. Although net income declined at the company, it expects sales to increase to $521 million to $542 million in the current quarter. Analysts were only expecting sales of $508 million.
Investing Insights: eBay Inc. Earnings: Revenue and Net Income Grow.
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