Ebay Earnings Rise on Growth in PayPal Business

ebay first quarter earnings Internet
Marcio Jose Sanchez/AP
NEW YORK -- Ebay grew its earnings and revenue in the first quarter thanks to growth in its PayPal business and its e-commerce sites. But the results fell shy of Wall Street's expectations, causing investors to send the company's stock lower in after-hours trading.

EBay Inc. (EBAY) said Wednesday that it earned $677 million, or 51 cents a share, in the January-March period. That's up from $570 million, or 44 cents per share, in the same period a year earlier.

Adjusted earnings were 63 cents a share, up from last year's 55 cents but below the 65 cents analysts were expecting.

Revenue grew 14 percent to $3.75 billion, slightly below Wall Street expectations. Analysts polled by FactSet were anticipating $3.77 billion.

The San Jose, California-based company's stock is down 2.6 percent after hours.


Increase your money and finance knowledge from home

Professional Vs Do it Yourself Investing

Should you get advice or DYI?

View Course »

Reading a Stock Quote

Learn to read the ingredients of a stock.

View Course »

Add a Comment

*0 / 3000 Character Maximum