Published in News
eBay Inc. reports growth in Q1 results
by David Stellmack on17 April 2008
Second consecutive $2 billion quarter
eBay, Inc. reported its financial results for Q1, with first quarter revenue of $2.19 billion, up $424 million over the same period last year. eBay generated $766 million of operating cash flow during this reporting period.
eBay President and CEO, John Donahoe, summed it up, saying, “This was a very strong financial quarter for the company. The results reflect the strength provided by our diverse portfolio of businesses. Our stability and growth continues to give us the confidence to make innovative changes to our products to keep customers engaged for years to come.”
These results are impressive, considering that nay-sayers had considered the Skype VoIP acquisition to be a failure. eBay attributed its strong Q1 results to several factors, including growth at its Skype and PayPal units, growth in global business classifieds and its Marketplaces “net transaction revenues.”
Key among its many highlights were the assumption of duties by John Donahoe, the new CEO; eBay’s repurchase of approximately 37 million shares of its outstanding common stock (at nearly $1billion); Skype’s achievement of 100 billion cumulative Skype-to-Skype minutes; PayPal’s acquisition of Fraud Sciences to aid with its development of fraud detection; and eBay’s global portfolio of classifieds businesses reporting a unique visitors increase of 101% on an ongoing yearly basis, averaging nearly 70 million unique visitors per month to the site.