Tuesday 26 July 2016

Ebay posts better-than-expected first-quarter profit

Published 29/04/2014 | 21:33

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.

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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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