April 21, 2010, 4:19 PM

eBay’s merchandise sales rise 24%

The value of merchandise sold on eBay Inc.’s marketplace rose 24% year over year in the first quarter ended March 31, eBay Inc. reported today. Gross merchandise volume also rose 24% year over year in the fourth quarter of last year. The company’s Q1revenue grew 9% compared to a year ago.

The value of merchandise sold on eBay Inc.’s marketplace rose 24% year over year in the first quarter ended March 31, eBay Inc. reported today. Gross merchandise volume also rose 24% year over year in the fourth quarter of last year. The company’s Q1revenue grew 9% compared to a year ago.

In its Q1 release, eBay reported:

  • The value of goods sold through eBay’s online marketplaces, excluding autos, rose 24% in the fourth quarter to $13.37 billion from $10.80 billion in the same quarter last year. 58% of marketplace revenue was from outside the U.S.
  • Fixed-price sales represented 55% of marketplace volume compared to 49% a year earlier, reflecting eBay’s shift away from the auction format as more large and midsized retailers use eBay as a sales platform.
  • Active users of eBay’s marketplaces totaled 89.5 million, up 1% from 88.3 million a year earlier. (Active users are those who have listed or bought on eBay in the previous 12 months.)
  • Payment volume increased 35% year over year to $21.3 billion, of which 59% came from the company’s merchant services unit that handles online payments for e-retailers. Payments with eBay’s PayPal online payment service account for the majority of the rest, with Bill Me Later accounting for 1% of total payment volume.
  • Active users of eBay’s payment services, which include consumers with PayPal or Bill Me Later accounts, increased 15% year over year to 84.3 million from 73.1 million.
  • EBay’s total Q1 revenue rose 9% to $2.20 billion from $2.02 billion a year ago.
  • Q1 net income was $397.7 million, up 11% from $357.1 million a year ago.

“Our first quarter results reflect another strong step toward achieving our three-year growth and profitability goals,” says eBay Inc. president and CEO John Donahoe. “We are becoming a more customer-focused and technology-driven company, delivering more innovative products and experiences and driving operating efficiencies to reinvest in growth.”

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