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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

eBay Easily Tops Wall Street's Profit View

Stocks in this article: EBAY

NEW YORK ( TheStreet) -- Shares of eBay (EBAY) 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.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
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!

Markets

DOW 18,030.21 +6.04 0.03%
S&P 500 2,081.88 -0.29 -0.01%
NASDAQ 4,773.4720 +8.0480 0.17%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

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