Ebay Inc (NASDAQ:EBAY) reported first-quarter financial results on Wednesday after market close.

Here are the key highlights.

• eBay stock is showing weakness. What’s pulling EBAY shares down?

Ebay Q1 Earnings

Ebay reported second-quarter revenue of $3.1 billion, +19% year-over-year. The revenue beat a Street consensus estimate of $3 billion, according to data from Benzinga Pro.

The company reported earnings per share of $1.66, beating a Street consensus estimate of $1.58.

Gross merchandise volume was $22.2 billion in the quarter, up 18% year-over-year.

"eBay's first quarter results marked a strong start to the year," eBay CEO Jamie Iannone said. "We accelerated GMV growth and delivered performance ahead of expectations."

Iannone said focus categories, C2C and recommerce priorities are helping with momentum.

Auction company Goldin, which is owned by eBay hit an all-time quarterly record for GMV in the quarter, helped by the $16.5 million Pikachu Illustrator card sold, a record-breaking sale.

Advertising revenue was $581 million in the quarter, with first-party advertising representing $555 million of the total.

What's Next for Ebay

Ebay is guiding for second-quarter revenue in a range of $2.97 billion to $3.03 billion, versus a Street consensus estimate of $2.97 billion.

The company is guiding for second-quarter earnings per share to be in a range of $1.46 to $1.51, versus a Street estimate of $1.50.

Shares are trading lower after the company’s financial report and guidance, which came in lower than or in line with estimates.

Ebay Stock Price Action

Ebay stock is up slightly at $103.80 after an initial sell-off in after-hours trading on Wednesday, versus a 52-week trading range of $65.01 to $107.34.

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