EBay Posts 42% Boost in Revenue in 1Q -- Update
April 28 2021 - 8:05PM
Dow Jones News
(Adds details)
By Kimberly Chin
EBay Inc. reported higher sales in the latest quarter as the
online marketplace continues to benefit from homebound
shoppers.
The e-commerce giant's first-quarter profit was $641 million. A
year earlier, the company's earnings were $3.41 billion and
included a gain from the sale of its StubHub ticket-sales unit and
classifieds business. Per-share earnings were 92 cents, compared
with $4.51 a year earlier.
Excluding certain items, profit was $1.09 a share. Analysts
polled by FactSet were expecting adjusted earnings of $1.07 a
share.
EBay's income from continuing operations, which excludes the
sale of StubHub and its classifieds business, was $569 million,
compared with $431 million last year.
Net revenue was $3.02 billion, a 42% increase from a year
earlier. Analysts on average were targeting $2.97 billion.
EBay said annual active buyers rose 7% to about 187 million
globally in the quarter while active sellers increased by 8% to
around 20 million globally. Gross merchandise volume, or the amount
of business transacted on its platforms, rose 29% to $27.5
billion.
Write to Kimberly Chin at kimberly.chin@wsj.com
(END) Dow Jones Newswires
April 28, 2021 19:50 ET (23:50 GMT)
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