eBay Shares Tumble After Hours As Guidance Misses Estimates

eBay (EBAY) shares are trading lower after hours on investor disappointment with the company’s financial guidance for the June quarter and for all of 2010.

For Q1, the company reported revenue of $2.196 billion, a bit above the Street at $2.18 billion. Non-GAAP EPS of 42 cents a share beat the Street by a penny a share. The company said revenue in its payments business was $809.3 million, up 26% from a year ago, with total payment volume of $21.3 billion, up 35%. The Marketplaces unit, which includes the core eBay business, StubHub and other e-commerce operations, had revenue of $1.4 billion, up 13% from a year ago. Gross merchandise value was $13.4 billion, up 24% from a year ago.

Nothing too alarming there. But the guidance came in light.

For Q2, the company sees revenue of $2.15 billion to $2.2 billion, with non-GAAP profits of 37-39 cents a share; the Street has been forecasting $2.21 billion and 40 cents.

For the full year, the company sees revenue of $8.8 billion to $9.1 billion, with non-GAAP profits of $1.63 to $1.68 a share; the Street has been expecting $9.12 billion and $1.67.

In late trading, EBAY is down $1.89, or 7.2%, to $24.40.