4/27/11

Sales on eBay rise 8.5%

EBay’s revenue increased 15.9% and profits jumped 19.6% in the first quarter.

Zak Stambor , Managing Editor

The value of merchandise sold on eBay Inc.’s marketplace increased 8.5% year over year in the first quarter ended March 31, eBay Inc. reported today. The company’s Q1 revenue rose 15.9%.

The 8.5% growth in marketplace sales represented an increase from year-over-year growth of 6% in the fourth quarter of 2010 and 3% in Q3. The growth rates were 13% in Q2 and 24% in Q1 when comparisons were against the weak sales of early 2009 when the economy was mired in recession.

For the first quarter ended March 31, eBay reported:

“PayPal continued to drive strong growth globally, eBay sharply accelerated growth in the U.S. and we announced several acquisitions that we believe will enhance our leadership and innovation in commerce and payments,” says John Donahoe, eBay president and CEO.  Among those deals are the online marketplace’s purchase of e-commerce service provider GSI Commerce Inc. for $2.4 billion, as well as its acquisition of provider of advertising services, search and mobile apps Where.

EBay reported 14% growth in U.S. net revenue in the first quarter, after year-over-year growth had ranged from 4-8% in the previous four quarters.

Topics:

Bill Me Later, eBay, GSI Commerce, GSI Commerce Inc., John Donahoe, PayPal, Q1, Q1 2011 earnings, Q1 2011 financials, Where

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