Ebay Shares Fall 3.6% After Company Lowers Sales Outlook

Ebay Inc. shares fell 3.6% in after-hours trade Wednesday, after the online auction company lowered its full-year sales outlook. Ebay said it had net income of $673 million, or 54 cents a share, in the quarter, from $837 million, or 53 cents a share, in the year-earlier period. The company said adjusted per-share earnings came to 68 cents, topping the FactSet consensus of 67 cents. Sales rose to $4.35 billion from $3.89 billion, versus FactSet consensus of $4.36 billion. Shares have lost 8.4% in the year to date, while the S&P 500 has gained 0.8%.