EBay beats 2Q profit expectations, misses revenue forecasts

Economic Indicators Associated Press

EBay Inc. (EBAY) on Thursday reported second-quarter net income of $83 million.

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The San Jose, California-based company said it had net income of 7 cents per share. Earnings, adjusted to account for discontinued operations and stock option expense, were 76 cents per share.

The results beat Wall Street expectations. The average estimate of 18 analysts surveyed by Zacks Investment Research was for earnings of 72 cents per share.

The e-commerce company posted revenue of $4.38 billion in the period, which did not meet Street forecasts. Thirteen analysts surveyed by Zacks expected $4.48 billion.

EBay expects full-year earnings in the range of $1.72 to $1.77 per share.

EBay shares have increased 13 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed slightly more than 2 percent. The stock has climbed 25 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on EBAY at http://www.zacks.com/ap/EBAY

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Keywords: eBay, Earnings Report, Priority Earnings