eBay Inc. Q1 Profit Decreases, but beats estimates

(RTTNews) - eBay Inc. (EBAY) released a profit for first quarter that decreased from last year but beat the Street estimates.

The company's earnings came in at $439 million, or $0.85 per share. This compares with $569 million, or $1.05 per share, in last year's first quarter.

Excluding items, eBay Inc. reported adjusted earnings of $648 million or $1.25 per share for the period.

Analysts on average had expected the company to earn $1.12 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 2.0% to $2.56 billion from $2.51 billion last year.

eBay Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $439 Mln. vs. $569 Mln. last year. -EPS (Q1): $0.85 vs. $1.05 last year. -Revenue (Q1): $2.56 Bln vs. $2.51 Bln last year.

-Guidance: Next quarter EPS guidance: $1.10 - $1.15 Next quarter revenue guidance: $2.49 - $2.54 Bln