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eBay Hits A Billion For the First Quarter Ever

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ebay’s profits went up 28% in the first quarter with the amount of people buying, selling, and bidding going up by a third.

The company’s quarterly revenue surpassed $1 billion for the first time.

“These are remarkable results by anyone’s standards,” said eBay chief exec, Meg Whitman.

A San Francisco Chronicle article says:

“EBay’s first-quarter profit increased to $256.3 million (19 cents per share) from $200.1 million (15 cents) in the same period a year ago. Revenue rose to $1.03 billion from $756.2 million in the first quarter of 2003.

Excluding certain charges, eBay earned a profit of 20 cents per share. That exceeded the 18 cents per share that analysts polled by Thomson First Call had been expecting.”

Listings and sales in the U.S. went up after the company altered its advertsing strategy.

According to an InformationWeek article,

“The number of bidders, sellers and buyers on the marketplace increased to 60.5 million in the first quarter, a 34 percent increase over the 45.1 million active users reported a year ago. New listings were a record 431.8 million in the quarter, 32 percent higher than the 327.7 million the previous year.

Online payments facilitator PayPal brokered $6.2 billion in transactions during the quarter, a 44 percent increase over the $4.3 billion reported a year ago.”

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eBay Hits A Billion For the First Quarter Ever
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