SAN JOSE, Calif. (AP) — SAN JOSE, Calif. (AP) — EBay Inc. (EBAY) on Wednesday reported first-quarter earnings of $503 million.
On a per-share basis, the San Jose, California-based company said it had net income of $1.06. Earnings, adjusted for stock option expense and non-recurring costs, were $1.38 per share.
The results surpassed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $1.34 per share.
The e-commerce company posted revenue of $2.59 billion in the period, also beating Street forecasts. Eight analysts surveyed by Zacks expected $2.55 billion.
For the current quarter ending in June, eBay expects its per-share earnings to range from $1.24 to $1.31.
The company said it expects revenue in the range of $2.59 billion to $2.66 billion for the fiscal second quarter.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on EBAY at https://www.zacks.com/ap/EBAY
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