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EBay reported earnings that topped analysts' expectations

Key Points
  • EBay on Tuesday reported earnings that topped analysts' expectations.
  • EBay reported first-quarter earnings of $518 million.
  • EBay expects full-year earnings in the range of $2.64 to $2.70 per share, with revenue ranging from $10.83 billion to $10.93 billion.
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eBay beats on top and bottom lines

EBay on Tuesday reported first-quarter earnings of $518 million.

On a per-share basis, the San Jose, California-based company said it had profit of 57 cents. Earnings, adjusted for one-time gains and costs, were 67 cents per share.

The results exceeded Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of 63 cents per share.

The e-commerce company posted revenue of $2.64 billion in the period, also surpassing Street forecasts. Ten analysts surveyed by Zacks expected $2.58 billion.

For the current quarter ending in July, eBay expects its per-share earnings to range from 61 cents to 63 cents.

The company said it expects revenue in the range of $2.64 billion to $2.69 billion for the fiscal second quarter. Analysts surveyed by Zacks had expected revenue of $2.66 billion.

EBay expects full-year earnings in the range of $2.64 to $2.70 per share, with revenue ranging from $10.83 billion to $10.93 billion.

EBay shares have increased 30 per cent since the beginning of the year, while the Standard & Poor's 500 index has increased 17 per cent. In the final minutes of trading on Tuesday, shares hit $36.62, a drop of 12 per cent in the last 12 months.

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Tech

Snap rally fades after earnings beat

Key Points
  • Snap, the maker of Snapchat, posted a loss of 10 cents per share, vs. an expected loss of 12 cents per share.
  • The company also managed to continue growing its user base, hitting a daily active user count of 190 million for the quarter.