Business Technology

Wednesday 23 August 2017

Ebay posts better-than-expected first-quarter profit

EBay Inc posted a better-than-expected first-quarter profit today, boosted by its PayPal payments unit, but the e-commerce giant's second-quarter forecast fell short of estimates.

The company earned 70 cents per share during the quarter, better than the average analyst estimate of 67 cents per share, according to Thomson Reuters I/B/E/S.

But eBay forecast second-quarter per-share profit between 67 cents and 69 cents, less than the 70 cents per share expected by Wall Street analysts.

The company's shares fell more than 3 percent in after-hours trading.

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