eBay (NASDAQ:EBAY) reported on Wednesday first quarter earnings that beat analysts' forecasts and revenue that topped expectations.
eBay announced earnings per share of $0.77 on revenue of $2.37B. Analysts polled by anticipated EPS of $0.72 on revenue of $2.32B. That with comparison to EPS of $0.67 on revenue of $2.64B in the same period a year before. eBay had reported EPS of $0.81 on revenue of $2.82B in the previous quarter. Analysts are expecting EPS of $0.7 and revenue of $2.32B in the upcoming quarter.
eBay shares are up 8% from the beginning of the year , still down 7.10% from its 52 week high of $42.00 set on July 18, 2019. They are outperforming the NASDAQ 100 which is up 2.05% year to date.
eBay shares lost 5.18% in after-hours trade following the report.
eBay follows other major Services sector earnings this month
eBay's report follows an earnings beat by Verizon on Friday, who reported EPS of $1.26 on revenue of $31.61B, compared to forecasts EPS of $1.22 on revenue of $32.38B.
AT&T had missed expectations on April 22 with first quarter EPS of $0.84 on revenue of $42.78B, compared to forecast for EPS of $0.85 on revenue of $44.2B.
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