EBay Inc forecast results for the rest of the year that fell short of Wall Street expectations, overshadowing its higher profit growth and sending its shares down nearly 6 percent.
Net profit in the e-commerce company's first quarter rose to $398 million, or 30 cents per share, from $357 million, or 28 cents per share, a year earlier.
On an adjusted basis, earnings were 42 cents per share. Analysts, on average, had been expecting earnings of 41 cents per share, according to Thomson Reuters I/B/E/S.
Revenue rose 9 percent to $2.2 billion.
EBay stood by its earlier full-year earnings outlook for revenue of $8.8 billion to $9.1 billion and adjusted earnings of $1.63 to $1.68 per share. That compares with the average Wall Street view for revenue of $9.1 billion and EPS of $1.67.
For the second quarter eBay estimated revenue of $2.15 billion to $2.2 billion and adjusted earnings of 37 cents to 39 cents per share. Analysts were looking for revenue of $2.2 billion and EPS of 40 cents.
Shares of eBay fell 5.7 percent to $24.80 in extended trade, after closing at $26.29 on Nasdaq.
(Reporting by Alexandria Sage; Editing by Richard Chang)