EBay beats quarterly revenue estimates

(Reuters) - EBay Inc beat Wall Street estimates for quarterly revenue on Tuesday, as the company's multi-year effort to make its ecommerce platforms more user friendly attracted more customers. The company reported net revenue of $2.64 billion for the first quarter ended March 31, up 2.4 percent from a year earlier, and beating analysts' average estimate of $2.58 billion, according to IBES data from Refinitiv. San Jose, California-based eBay announced a review of its StubHub and eBay Classifieds businesses in March and said it would appoint two new directors to its board as part of an agreement to ease pressure from activist investors.

Reuters April 24, 2019 03:05:19 IST
EBay beats quarterly revenue estimates

EBay beats quarterly revenue estimates

(Reuters) - EBay Inc beat Wall Street estimates for quarterly revenue on Tuesday, as the company's multi-year effort to make its ecommerce platforms more user friendly attracted more customers.

The company reported net revenue of $2.64 billion for the first quarter ended March 31, up 2.4 percent from a year earlier, and beating analysts' average estimate of $2.58 billion, according to IBES data from Refinitiv.

San Jose, California-based eBay announced a review of its StubHub and eBay Classifieds businesses in March and said it would appoint two new directors to its board as part of an agreement to ease pressure from activist investors.

EBay's net income rose to $518 million, or 57 cents per share, from $407 million, or 40 cents per share, a year earlier.

The company's shares rose 5 percent in extended trading.

(Reporting by Arjun Panchadar in Bengaluru; Editing by Sriraj Kalluvila)

This story has not been edited by Firstpost staff and is generated by auto-feed.

Updated Date:

TAGS:

Find latest and upcoming tech gadgets online on Tech2 Gadgets. Get technology news, gadgets reviews & ratings. Popular gadgets including laptop, tablet and mobile specifications, features, prices, comparison.

also read

Hong Kong marks handover anniversary as national security law takes effect
World

Hong Kong marks handover anniversary as national security law takes effect

HONG KONG (Reuters) - Hong Kong authorities threw a security blanket across the city early on Wednesday, the 23rd anniversary of the former British colony's handover to Chinese rule, hours after new national security legislation took effect in the financial hub. The contentious law will punish crimes of secession, subversion, terrorism and collusion with foreign forces with up to life in prison, heralding a more authoritarian era for China's freest city.

Kentucky Democrats pick ex-fighter pilot McGrath to challenge U.S. Senate leader McConnell
World

Kentucky Democrats pick ex-fighter pilot McGrath to challenge U.S. Senate leader McConnell

By Susan Cornwell (Reuters) - Former fighter pilot Amy McGrath said on Tuesday she was ready to take on Senate Republican Majority Leader Mitch McConnell after edging out a Black progressive to clinch the Democratic nomination for the seat.

World shares end stellar quarter but still down in 2020
Business

World shares end stellar quarter but still down in 2020

By Rodrigo Campos NEW YORK (Reuters) - A global stocks index rose on Tuesday and marked its largest quarterly gain since 2009 as investors continued to look for signs of an economic recovery while shrugging off data showing a rising number of COVID-19 cases. The possible return of Libyan oil production, which has been at a trickle since the start of the year, weighed on crude prices. World shares rose 18.7% this quarter, the biggest quarterly gain in 11 years, but are still down more than 7% so far this year due to a slump of 34% between Feb.