April 18, 2012, 4:13 PM

Sales on eBay jump 12%

EBay’s revenue in the first quarter reached $3.28 billion.

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The value of merchandise sold on eBay Inc.’s U.S. marketplace increased 13.1% year over year in the first quarter ended March 1, eBay reported today. Globally, the value of merchandise sold on eBay’s marketplaces increased 11.8% year over year. The company’s Q1 revenue increased 28.6%.

The 11.8% growth in marketplace sales represented an increase from year-over-year growth of 10.3% in the fourth quarter, but a dip from 16.3% growth in Q3.

"Our marketplaces business has turned the corner, shifting from defense to offense, and is delivering accelerating results," said John Donahoe, eBay president and CEO, during a conference call with analysts. "Our efforts to make the shopping experience on eBay faster and easier are paying off."

For the first quarter ended March 31, eBay reported:

• The value of goods sold through eBay’s online marketplaces, excluding autos, increased 11.8% in the first quarter to $16.21 billion from $14.50 billion in the same quarter last year.  60.7% of marketplace revenue was from outside the United States.

• Fixed-price sales represented 64% of marketplace volume compared with 61% a year earlier, reflecting eBay’s continued move away from the auction format as more large and midsized retailers use eBay as a sales platform, selling merchandise for a fixed price.

• Active users of eBay’s marketplaces totaled 102.4 million, up 6.8% from 95.9 million a year earlier. (Active users are those who have listed or bought on eBay in the previous 12 months.)

• Payment volume increased 23.8% year over year to $33.86 billion from $27.36 billion.

 • 66% of eBay’s payment volume came from the company’s merchant services unit that handles off-eBay 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 12.4% year over year to 109.8 million from 97.7 million.

• EBay’s total Q1 revenue rose 28.6% to $3.28 billion from $2.55 billion a year ago.

• Q1 net income was $570 million, up 19.7% from $476 million a year ago.

"We had a strong first quarter and an excellent start to the year driven by strong performance across eBay, PayPal and GSI," said Donahoe. "Our portfolio is enabling commerce around the world, and we're excited about our future. We're building a set of capabilities that is reshaping how people shop and pay. We're helping merchants of all sizes compete in a rapidly changing multichannel retail environment, and we will never compete with them. And we're creating compelling and engaging experiences for consumers all over the world."

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