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EBay's Results and Outlook Top Forecasts

EBay's quarterly results and its outlook beat Wall Street estimates Wednesday, but shares declined in extended trading.

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AP

The company reported second-quarter earnings of 48 cents a share, excluding one-time items, up from 40 cents a share a year earlier.

Sales for the most recent quarter rose to $2.76 billion, up from $2.22 billion last year.

The company was seen earning 46 cents a share on revenue of $2.61 billion, according to a consensus estimate from Thomson Reuters.

In addition, Ebay said it expects 2011 full-year revenue of between $11.3 billion and $11.6 billion, and earnings of between $1.97 a share and $2 a share, excluding one-time items.

Wall Street analysts expected 2011 revenue of $10.94 billion and earnings of $1.97 a share.

Shares of Ebay turned lower in extended trading Wednesday. Get after-hour quotes for eBay here.

The shares closed at $33.17 in the regular New York Stock Exchange session. Volume exceeded 19.6 million shares before the closing bell.