This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

eBay Easily Tops Wall Street's Profit View

NEW YORK ( TheStreet) -- Shares of eBay (EBAY - Get Report) jumped in late trades on Wednesday after the online auctioneer beat Wall Street's earnings expectations by a healthy margin.

The San Jose, Calif.-based company reported non-GAAP earnings of $725 million, or 55 cents a share, in the quarter on revenue of $3.28 billion, up 29% from last year's total. The average estimate of analysts polled by Thomson Reuters was for a profit of 52 cents a share in the March-ended quarter on revenue of $3.15 billion.

For the second quarter ending in June, eBay expects non-GAAP earnings of 53 to 55 cents a share on revenue ranging from $3.25 billion to $3.35 billion. Wall Street's current consensus estimate is for a profit of 54 cents a share on revenue of $3.36 billion. The company sees non-GAAP earnings of $2.30 to $2.35 a share on revenue of $13.8 billion to $14.1 billion vs. the average analysts' view of $2.30 a share on revenue of $13.85 billion.



The stock was last quoted at $37.50, up 4.5%, on volume of 1.1 million, according to Nasdaq.com. Based on Wednesday's regular-session close at $35.87, the share are up 18% so far in 2012.

"The first quarter was a strong start to the year for us with momentum continuing in our Marketplaces, PayPal and GSI Commerce businesses," said John Donahoe, the company's president and CEO, in a statement. "We believe that innovation in retail today is technology driven, and consumers are embracing smarter, easier, better ways to shop. We are enabling commerce in this new retail environment, supporting and partnering with sellers of all sizes and giving consumers worldwide the ability to shop anytime, anywhere, for whatever they want."

eBay highlighted the progress of its PayPal business, saying it ended the quarter with 109.8 million registered accounts, up 12% from last year, and that revenue from the unit jumped 32% because of "increased penetration on eBay as well as continued merchant and consumer adoption."

Its Marketplaces business reported gross merchandise volume of $16 billion, excluding vehicle sales, in the first quarter, also a year-over-year increase of 12%.

-- Written by Michael Baron in New York.



>To contact the writer of this article, click here: Michael Baron.

Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
EBAY $57.52 -0.94%
AAPL $124.50 0.91%
FB $83.45 0.64%
GOOG $555.17 -0.65%
TSLA $188.66 -2.90%

Markets

DOW 17,678.23 -40.31 -0.23%
S&P 500 2,056.15 -4.90 -0.24%
NASDAQ 4,863.3620 -13.1570 -0.27%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs