eBay Reports Better Than Expected Earnings (EBAY)

eBay (NASDAQ: EBAY) just came out with first quarter earnings, and it beat Wall Street expectations on the top and bottom lines.

The San Jose-based company reported earnings of 47 cents per share on $2.54 billion in revenues. Wall Street had been expecting 46 cents per share on revenues of $2.47 billion.

The company said it sees second quarter earnings of 45-46 cents per share on revenues of $2.55 to $2.65 billion, and it sees full year earnings of $1.93 to $1.97 per share, on revenues of $10.6-$10.9 billion.

“In the first quarter, PayPal continued to drive strong growth globally, eBay sharply accelerated growth in the U.S. and we announced several acquisitions that we believe will enhance our leadership and innovation in commerce and payments. The year is off to a strong start,” said eBay Inc. President and CEO John Donahoe.

Shares are trading at $34.31 in extended hours trading.