eBay Makes Q1 Headway

For the first quarter, and despite some mixed results, eBay posted a rise in both revenues and income. 

Net income from continuing operations was $521 million, or 57 cents per diluted share, versus $407 million, or 40 cents per diluted share, in the year-before period. Adjusted income from continuing operations was $608 million, or 67 cents per diluted share, versus $548 million, or 53 cents per diluted share, in the quarter a year previous.

Net revenues were $2.64 billion as compared to $2.58 billion in the year-prior quarter.

In the first quarter, eBay grew active buyers by 4% across its platforms, for a total of 180 million global active buyers. During the period, eBay Marketplace platforms delivered $2.2 billion of revenues and $21.6 billion of gross merchandise volume. Marketplace revenue growth was 3% on an as-reported basis and 4% on a foreign exchange rate neutral basis, as GMV slipped 4% on an as-reported basis and 1% on a FX-neutral basis. StubHub revenues were flat and GMV slightly down while classified revenues increased 12% on an FX-neutral basis.

“We delivered a solid first quarter with revenue and EPS,” said Devin Wenig, eBay president and CEO. “Our initiatives to create a next generation payment and advertising experience are on track, we saw healthy buyer growth and disciplined cost control, and we continue to simplify the buying process while remaining focused on seller’s success.”