SAN JOSE, Calif. (AP) — SAN JOSE, Calif. (AP) — EBay Inc. (EBAY) on Wednesday reported first-quarter net income of $512 million.
The San Jose, California-based company said it had net income of $1.12 per share. Earnings, adjusted for stock option expense and non-recurring costs, came to $1.66 per share.
The results topped Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.58 per share.
The e-commerce company posted revenue of $3.09 billion in the period, also topping Street forecasts. Seven analysts surveyed by Zacks expected $3.03 billion.
For the current quarter ending in June, eBay expects its per-share earnings to range from $1.46 to $1.51.
The company said it expects revenue in the range of $2.97 billion to $3.03 billion for the fiscal second quarter.
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