SAN JOSE, Calif. (AP)-- EBay Inc. (EBAY) on Wednesday reported fourth-quarter profit of $477 million.

The San Jose, California-based company said it had profit of 40 cents per share. Earnings, adjusted for one-time gains and costs, came to 50 cents per share.

The results topped Wall Street expectations. The average estimate of 29 analysts surveyed by Zacks Investment Research was for earnings of 49 cents per share.

The e-commerce company posted revenue of $2.32 billion in the period, meeting Street forecasts.

For the current quarter ending in April, eBay expects its per-share earnings to range from 43 cents to 45 cents.

The company said it expects revenue in the range of $2.05 billion to $2.1 billion for the fiscal first quarter. Analysts surveyed by Zacks had expected revenue of $2.16 billion.

EBay expects full-year earnings in the range of $1.82 to $1.87 per share, with revenue ranging from $8.5 billion to $8.8 billion.

EBay shares have declined 4 percent since the beginning of the year, while the Standard & Poor's 500 index has declined almost 8 percent. In the final minutes of trading on Wednesday, shares hit $26.34, a drop of 52 percent in the last 12 months.

--Associated Press

Published on: Jan 27, 2016