eBay Inc. (EBAY) Wednesday reported first-quarter net income of $677 million or $0.51 per share, up from $570 million or $0.44 per share last year.
Adjusted net income for the quarter rose to $829 million or $0.63 per share from $725 million or $0.55 per share last year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.62 per share for the quarter. Analysts' estimates typically exclude special items.
Net revenues for the quarter grew 14 percent to $3.75 billion from $3.28 billion last year. Analysts estimated revenues of $3.77 billion for the quarter.
Looking forward to the second quarter, eBay expects earnings of $0.46 to $0.48 per share, adjusted earnings of $0.61 to $0.63 per share, and revenues of $3.80 billion to $3.90 billion. Analysts currently estimate earnings of $0.66 per share on revenues of $3.95 billion for the second quarter.
For the full year 2013, eBay continues to expect earnings of $2.23 to $2.29 per share, adjusted earnings of $2.70 to $2.75 per share and revenues of $16.00 billion to $16.50 billion. Analysts currently estimate earnings of $2.75 per share on revenues of $16.38 billion for the quarter.
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