Ebay Q1 Results Top Estimates

(RTTNews) - eBay Inc. (EBAY) reported a net loss of $2.3 billion or $1.82 per share, compared to net income of $677 million or $0.51 per share for the year-ago quarter.

Excluding items, adjusted net income for the first quarter was $899 million or $0.70 per share, compared to $829 million or $0.63 per share in the prior year quarter.

Revenue for the first quarter rose 14% to $4.26 billion from $3.75 billion in the same quarter last year.

Analysts polled by Thomson Reuters expected the company to earn $0.67 per share on revenue of $4.23 billion for the first quarter. Analysts' estimates typically exclude special items.

Looking forward to the second quarter, the company forecasts revenues $4.325 billion to $4.425 billion, earnings of $0.51 to $0.53 per share and adjusted earnings of $0.67 to $0.69 per share. Analysts currently expect the company to earn $0.70 per share on revenue of $4.40 billion for the second quarter.

For the full year 2014, the company now forecasts revenues of $18.00 billion to $18,.50 billion, earnings of $0.04 to $0.09 per share and adjusted earnings of $2.95 to $3.00 per share. Previously, the company forecast revenues of $18.00 billion to $18.50 billion, earnings of $2.40 to $2.45 per share and adjusted earnings of $2.95 to $3.00 per share.

Analysts currently expect the company to earn $2.99 per share on revenue of $18.26 billion for the full year 2014.