EBay Inc. Q1 Profit Increases, Beats Estimates

(RTTNews) - eBay Inc. (EBAY) announced a profit for its first quarter that increased from the same period last year and beat the Street estimates.

The company's earnings totaled $503 million, or $1.06 per share. This compares with $438 million, or $0.85 per share, last year.

Excluding items, eBay Inc. reported adjusted earnings of $657 million or $1.38 per share for the period.

Analysts on average had expected the company to earn $1.34 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 1.1% to $2.585 billion from $2.556 billion last year.

eBay Inc. earnings at a glance (GAAP) :

-Earnings: $503 Mln. vs. $438 Mln. last year. -EPS: $1.06 vs. $0.85 last year. -Revenue: $2.585 Bln vs. $2.556 Bln last year.

-Guidance: Next quarter EPS guidance: $1.24 - $1.31 Next quarter revenue guidance: $2.59 - $2.66 Bln