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.

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By Joseph Weisenthal
  • CBSNews

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