EBay's first-quarter profit tops Wall Street, but outlook disappoints

SAN FRANCISCO, April 29 Tue Apr 29, 2014 4:28pm EDT

SAN FRANCISCO, April 29 (Reuters) - EBay Inc posted a better-than-expected first-quarter profit on Tuesday, boosted by its PayPal payments unit, but the e-commerce giant's second-quarter forecast fell short of estimates.

The company earned 70 cents per share during the quarter, better than the average analyst estimate of 67 cents per share, according to Thomson Reuters I/B/E/S.

But eBay forecast second-quarter per-share profit between 67 cents and 69 cents, less than the 70 cents per share expected by Wall Street analysts. The company's shares fell more than 3 percent in after-hours trading. (Reporting by Deepa Seetharaman; Editing by Bernard Orr)

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