EBay beats quarterly revenue estimates

April 23, 2019

(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)

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