Online auction giant eBay’s first-quarter revenue jumped 29pc to US$3.3bn, compared to the same period last year, while increased penetration on eBay helped boost the company’s PayPal business’ revenue up 32pc.
eBay reported net income for the first quarter ended 31 March on a GAAP basis of US$570m, or US$0.44 per diluted share, and non-GAAP net income of US$725m, or US$0.55 per diluted share.
Strong top-line growth, partially offset by increased investment in the shopping experience and the impact of acquisitions primarily drove the year-over-year increase in first quarter GAAP and non-GAAP earnings per diluted share
“The first quarter was a strong start to the year for us with momentum continuing in our Marketplaces, PayPal and GSI Commerce businesses,” said eBay Inc. president and CEO John Donahoe.
“We believe that innovation in retail today is technology driven, and consumers are embracing smarter, easier, better ways to shop. We are enabling commerce in this new retail environment, supporting and partnering with sellers of all sizes and giving consumers worldwide the ability to shop anytime, anywhere, for whatever they want.”
PayPal shows strong performance in Q1
PayPal also delivered strong first-quarter financial results.
PayPal ended the quarter with 109.8m active registered accounts, which marks a 12pc increase over the first quarter of 2011.
PayPal revenue rose 32pc year over year, driven primarily by increased penetration on eBay, as well as continued merchant and consumer adoption.
PayPal’s net total payment volume increased 24pc year over year to US$34bn.