As Expected, eBay Inc. Results Exceed Expectations

22 Apr

EBay’s revenue and profits exceeded Wall Street’s expectations again this quarter. Revenue topped 2.02 billion compared to the estimate of 1.94 billion and profit per share was 39 cents compared to the consensus expectations in the 33 cent range. eBay’s payment division, which includes Paypal, was the strongest of eBay’s businesses, bringing in revenue of 643 million dollars on 15.86 billion in payments processed. This represents an increase of 10% year over year. Revenue for eBay’s Marketplace division, which includes eBay’s core auction website, decreased 18% year over year to 1.22 billion dollars. Looking forward, eBay expects revenue in the second quarter to be similar to the first. Estimated revenue is in the 1.85 to 2.05 range and earnings per share in the .34 to .36 cent range.

EBay stock was up 49 cents in regular trading to $14.78 and is up between 5 and 10 percent after hours, trading above $15 for only the second time in the last 4 months.

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