NEW YORK (TheStreet) -- Shares of eBay
(EBAY - Get Report) are feeling the effects this morning of the first-quarter loss the company reported yesterday, whether warranted or not.
The stock was recently trading at $51.19, down 6%. During the past year, the stock has fallen 2.4%, compared with a gain of 23% for the Nasdaq Composite index.
Late Tuesday, eBay posted a $2.33 billion loss, but that was primarily the result of a $3 billion tax charge due to the repatriation of $9 billion in overseas cash. Excluding that, the company earned 70 cents per share, 3 pennies above the average estimate of analysts.
Revenue rose 14% to $4.26 billion, which was slightly above the $4.23 billion Wall Street estimates.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts