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EBay Tops Street View, Raises Full-Year Outlook

EBay posted quarterly results that topped Wall Street forecasts and raised its outlook for the fiscal year Wednesday.

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AP

The internet commerce company reported a first-quarter profit of 47 cents, compared with 42 cents a share during the same period a year ago.

Sales for the most recent quarter came in at $2.55 billion, versus $2.196 billion last year.

Shares of EBay were lower in extended trade. Get after-hour quotes for eBay here.

Analysts were expecting the EBay to release earnings of 46 cents a share on revenue of $2.48 billion, according to a consensus estimate from Thomson Reuters.

The company issued full-year guidance with earnings per share of $1.93 to $1.97 on revenue of $10.6 to $10.9 billion. Analysts polled by Thomson Reuters are expecting full-year earnings of $1.94 per share on revenue of $10.48 billion.

In March, EBay agreed to pay $2.4 billion for GSI Commerce, which operates websites for retailers such as Toys R Us and Bath & Body Works.

The stock closed up 95 cents, or 2.87 percent, to end at $34.03.