EBay Inc reported profit that matched Wall Street estimates and gave a restrained outlook for the rest of the year, sending its shares lower.

Not a spectacular quarter, said R J Hottovy, an equity analyst at Morningstar. It was essentially in line, which may have disappointed the market.

The operator of the largest online marketplace reported third-quarter net income of $490.5 million, or 37 cents a share, compared to $432 million, or 33 cents a share, a year earlier.

Excluding stock-based compensation expenses and other items, profit was $628.2 million, or 48 cents a share, in the latest period, the company said. Revenue climbed 32 percent to $2.97 billion.

EBay was expected to earn 48 cents a share on revenue of $2.91 billion, according to Thomson Reuters I/B/E/S.

EBay forecast fourth-quarter profit of 55 cents to 58 cents a year. Analysts were looking for 58 cents a share, according to Thomson Reuters I/B/E/S.

EBay forecast full-year revenue of $11.5 billion to $11.6 billion and full-year profit of $1.98 to $2.01 a share.

When eBay reported second-quarter results in July, the company forecast full-year revenue of $11.3 billion to $11.6 billion and full-year profit of $1.97 to $2.00 a share.

Investors were assuming there would be upside surprise in earnings or the guidance, said Fred Moran, an analyst at Benchmark Capital.

They maintained their full-year forecast essentially, which reflects a little caution around the global economy, Moran added. Management could increase forecasts later in the year, but things are too volatile right now to stick one's neck out.

EBay shares fell 4 percent to $31.90 in after-hours trading.