EBay's first-quarter profit tops Wall Street

San Francisco - EBay 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 67c per share, according to Thomson Reuters.

But eBay forecast second-quarter per-share profit between 67c and 69c, less than the 70c per share expected by Wall Street analysts.

The company's shares fell more than 3% in after-hours trading.