SAN JOSE, Calif. – SAN JOSE, Calif. (AP) _ EBay Inc. (EBAY) on Wednesday reported second-quarter earnings of $435 million.
On a per-share basis, the San Jose, California-based company said it had profit of 38 cents. Earnings, adjusted for one-time gains and costs, were 43 cents per share.
The results surpassed Wall Street expectations. The average estimate of 30 analysts surveyed by Zacks Investment Research was for earnings of 42 cents per share.
The e-commerce company posted revenue of $2.23 billion in the period, which also topped Street forecasts. Thirty analysts surveyed by Zacks expected $2.17 billion.
For the current quarter ending in October, eBay expects its per-share earnings to range from 42 cents to 44 cents.
The company said it expects revenue in the range of $2.16 billion to $2.19 billion for the fiscal third quarter.
EBay expects full-year earnings in the range of $1.85 to $1.90 per share, with revenue ranging from $8.85 billion to $8.95 billion.
EBay shares have fallen roughly 2 per cent since the beginning of the year, while the Standard & Poor’s 500 index has climbed slightly more than 6 per cent. In the final minutes of trading on Wednesday, shares hit $26.99, a decrease of 5.5 per cent in the last 12 months.
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 http://www.zacks.com/ap/EBAY
Keywords: eBay, Earnings Report, Priority Earnings