Shares of eBay are slipping on Wednesday after the online marketplace reported a weaker-than-expected profit outlook for the second quarter. eBay still managed to report first-quarter profit that beat Wall Street expectations and revenue that climbed 14% from last year. The company's earnings were boosted by its PayPal unit, where results affirmed that eBay and PayPal are better together, according to CEO John Donahoe. Activist investor Carl Icahn had been pushing for PayPal to be spun off.

More from Video

Elon Musk's Twitter Tirade Is the Dumbest Thing on Wall Street

Elon Musk's Twitter Tirade Is the Dumbest Thing on Wall Street

Replay: Jim Cramer on the Markets, 10-Year Yield, Oil Prices and Foot Locker

Replay: Jim Cramer on the Markets, 10-Year Yield, Oil Prices and Foot Locker

Video: You Could Live in a Ritz-Carlton or St. Regis Home

Video: You Could Live in a Ritz-Carlton or St. Regis Home

KPMG Chair & CEO: There's No One-Size-Fits-All Approach to Diversity

KPMG Chair & CEO: There's No One-Size-Fits-All Approach to Diversity

Best Buy's Billionaire Founder: We Were 'Late to the Game' in Online Shopping

Best Buy's Billionaire Founder: We Were 'Late to the Game' in Online Shopping