Earnings: eBay Q1 Revenue Up 24 Percent; Net Income Up 22 Percent

This story was written by Joseph Weisenthal.
Online auctioneer eBay (NSDQ: EBAY) reported Q1 revenue of $2.19 billion, a 24 percent increase from $1.77 billion in the year-ago period. Net income grew 22 percent to $562 million ($.42 per share) from $460 million ($.33 per share). The EPS figure came in ahead of the $.39 per share that analysts were expecting, though the effect of the weak dollar contributed an additional $110 million to the top line. Some highlights:

-- Skype: The voice service that's been the subject of persistent rumors and controversy had revenue of $126 million in the quarter, up 61 percent year over year. On a sequential basis, revenue was up about 9.5 percent. The service now has 309 million total registered users, having added 33 million in the quarter.
-- PayPal: Revenue of $582 million was 32 percent higher than in the year ago period, and slightly up sequentially from $563 million.
-- Auctions: The core business, which includes auctions, Kijiji (classifieds) and StubHub (tickets) saw revenue of $1.48 billion, for 19 percent year-over-year growth.

After hours, the stock is up about 1 percent on the beat.

Release | Webcast (5:00 PM ET) | Slides (.pdf)


By Joseph Weisenthal

Comments

Watch CBSN Live

Watch CBS News anytime, anywhere with the new 24/7 digital news network. Stream CBSN live or on demand for FREE on your TV, computer, tablet, or smartphone.

Watch Now

New Android App

For your Android phone and tablet, download the FREE redesigned app, featuring CBSN, live 24/7 news.

Download
The all new
CBS News App for Android® for iPad® for iPhone®
Fully redesigned. Featuring CBSN, 24/7 live news. Get the App