Ebay Inc (NASDAQ:EBAY) stock was down on Thursday on a weak guidance in its earnings report for the first quarter of 2017.
Ebay Inc’s outlook for the second quarter of 2017 was released its its earnings report for the first quarter of the year. The company is expecting revenue to range from $2.28 billion and $2.32 billion, and earnings per share between 43 cents and 45 cents. Wall Street is expecting EBAY to report revenue of $2.32 billion with earnings per share of 47 cents for the quarter.
Ebay Inc also released its guidance for the full year of 2017 in its recent earnings report. It is expecting revenue to be between $9.30 billion and $9.50 billion, with earnings per share ranging from $1.98 to $2.03. Analysts are expecting revenue of $9.42 billion and earnings per share of $2.02 for the year.
During the first quarter of 2017, eBay Inc reported earnings per share of 49 cents. This is an increase over its earnings per share of 47 cents from the same time last year. It also came in one penny above Wall Street’s earnings per share estimate of 48 cents for the quarter.
Revenue reported by eBay Inc in the first quarter of the year was $2.22 billion. This is up from the $2.12 billion that was reported in the first quarter of 2016. It also came in above analysts’ revenue estimate of $2.21 billion for the first quarter of 2017.
Operating income reported by eBay Inc in the first quarter of 2017 was $1.04 billion. This is higher than the operating income of $482 million reported in the same period of the year prior.
Ebay Inc reported net income of $538 million during the first quarter of the year. The e-commerce company reported a net income of $550 million during the same time of the previous year.
EBAY stock was down 3% as of Thursday morning.