Oy Vey eBay
First-quarter earnings for Bay exceeded analysts’ estimates, but the company’s tepid second-quarter forecast appears to have turned investors’ stomachs.
Shares in the eBay (EBAY) slid seven percent Wednesday after the company said it expects profit of between 37 cents and 39 cents a share in the current quarter–short of the 40 cents a share the Street was expecting.
And a disappointing full-year outlook didn’t help matters. As BGC Partners analyst Colin Gillis observed, “The expectations for a monster quarter are not materializing.”
Still, the company did beat the Street in its latest quarter, reporting earnings of 42 cents per share on revenue of $2.196 billion. Analysts had anticipated 41 cents a share on $2.18 billion.