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EBay posts higher 1Q net income and revenue

gdominique Wrote: Apr 18, 2012 6:34 PM
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EBay's first-quarter net income grew 20 percent thanks to higher revenue from its PayPal business and brisk sales at its e-commerce websites. The results beat Wall Street's expectations and investors sent the company's stock higher in after-hours trading.

EBay Inc. said Wednesday that it earned $570 million, or 44 cents per share, in the January-March period. That's up from $476 million, or 36 cents per share, a year ago.

Adjusted earnings of 55 cents per share beat Wall Street's estimates by 3 cents.

Revenue grew 29 percent to $3.28 billion from $2.55 billion. That's above the $3.15 billion that analysts polled by FactSet had...

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