eBay reports growth in Q1 revenue and net income

E-commerce

by CBR Staff Writer| 18 April 2013

The company expects net revenues to be in the range of $3.8bn to $3.9bn for the second quarter of this year.

eBay has reported a 14% increase in its first quarter revenue to $3.74bn, compared to $3.27bn for the corresponding period of 2012.

Net income rose 19% to $677m, or $0.51 diluted earnings per share, for the quarter, compared to $570m, or $0.44 diluted earnings per share, for the same period last year.

The company said downloads of its suite of mobile apps expanded the overall commerce footprint, crossing 162 million since launch in the third quarter of 2008.

eBay's PayPal business revenue increased 18% to $1.5bn for the quarter with 128 million active registered accounts.

Marketplaces business revenue rose 13% to $2bn in the quarter with 116 million active users.

The company's GSI Commerce business contributed $236m in revenue for the quarter and its enterprise commerce platform generated $807m in global ecommerce (GeC) Merchandise Sales, while its marketing services fee business reported a revenue of $50m.

eBay president and CEO John Donahoe said that the company has registered strong first quarter, with accelerating user growth across both Marketplaces and PayPal, and with GSI enabling their retail clients to grow faster than ecommerce.

"Technology is creating a commerce revolution, and we are in the forefront with strong mobile leadership and a focus on helping retailers and brands engage consumers anytime, anywhere," Donahoe said.

The company expects net revenues to be in the range of $3.8bn to $3.9bn for the second quarter of this year.

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