eBay Inc. EBAY experienced a surge of more than 4% in after-hours trading on Wednesday, after the company reported better-than-expected quarterly earnings and revenue that surprised Wall Street analysts. In the first quarter, eBay generated a profit of $569 million, equivalent to $1.05 per share, a positive turn from the $1.4 billion loss, or $2.28 per share, recorded in the same period last year. The adjusted earnings per share (EPS) for eBay stood at $1.11, excluding one-off items. The company’s revenue rose slightly by 1% to $2.5 billion. FactSet analysts predicted that eBay’s adjusted EPS would be around $1.07 per share, with a revenue projection of $2.5 billion.
eBay CEO, Jamie Iannone, expressed satisfaction with the company’s financial results, highlighting that eBay has surpassed its critical financial and operational targets for the quarter.
