Guidance Hits eBay Shares
Apr 17th 2013 5:18PM
eBay Inc. (NASDAQ: EBAY) reported first quarter results after markets closed today. The online auction company reported adjusted diluted earnings per share (EPS) of $0.63 on revenues of $3.75 billion. In the same period last year the company reported EPS of $0.55 on revenues of $3.28 billion. The consensus estimate called for EPS of $0.62 on revenues of $3.77 billion.
On a GAAP basis, EPS for the first quarter totaled $0.51, compared with GAAP EPS of $0.44 in the first quarter of last year.
For the second quarter, eBay expects revenue of $3.8 to $3.9 billion and EPS of $0.61 to $0.63. The consensus estimate calls for $3.95 billion in revenue and EPS of $0.66. For the full year, the company expects revenue of $16 to $16.5 bi llion and EPS of $2.70 to $2.75, compared with consensus estimates of $16.39 bln in revenue and EPS of $2.75.
The company's CEO said:
Technology is creating a commerce revolution, and we are in the forefront with strong mobile leadership and a focus on helping retailers and brands engage consumers anytime, anywhere.
The company's PayPal business grew 18%, to $1.5 billion, and PayPal added 5 million registered accounts in the first quarter.
That second-quarter guidance came in below estimates will hit the shares, but eBay is likely to follow its pattern of coming in just above the consensus estimate - whatever it is - in the second quarter.
Shares are down about 2.5% at $56.10 in after-hours trading today. The 52-week range is $35.50 to $58.04. Prior to today's release Thomson/Reuters had a consensus price target of around $63.70 on the company's shares.
Filed under: 24/7 Wall St. Wire, Earnings, Internet, Services Tagged: EBAY, featured