EBay Shares Add 5% In Pre-market After Quarterly Results, Outlook Top Estimates

(RTTNews) - Shares of eBay Inc. (EBAY) are rising more than 5 percent in pre-market on Wednesday at $46.71, after reporting better-than-expected fourth-quarter results. The e-commerce giant's first-quarter profit outlook also came in above view.

The company reported net income from continuing operations of $728 million, or $1.40 per share for the fourth quarter, higher than $671 million or $1.23 per share in the same quarter a year ago.

Excluding one-time items, income from continuing operations were $560 million, or $1.07 per share, that beat the average estimate of 23 analysts polled by Thomson-Reuters of $1.03 per share.

Revenue was $2.562 billion for the quarter, up 2 percent year on year. The consensus estimate was for $2.51 billion.

Looking forward to the first quarter, eBay expects adjusted earnings in the range of $1.19 - $1.23, above the Street view of $1.13 per share.

Revenue for the first-quarter is expected between $2.50 billion and $2.54 billion. The consensus estimate stands at $2.53 billion.

eBay shares had closed at $44.39, up 1.16 percent on Tuesday. The stock has been trading in the range of $37.17 - $49.48 in the last 1 year.