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EBay reported first-quarter results<\/a> after the bell on Wednesday.<\/p>\n The company posted an adjusted 49 cents per share, when Wall Street was forecasting 48 cents. EBay reported revenue of $2.2 billion, when analysts were expecting roughly the same at $2.21 billion. This is up 4 percent from last year.<\/p>\n Gross merchandise volume, a measure of the total sales transactions of the platform, came in at $20.9 billion, slightly beneath the $21.06 billion analysts had been expecting.<\/p>\n EBay is facing a 24.6 percent annual decline in its operating margins, because it is spending more on marketing to help grow its business, amid growing competition in e-commerce.<\/p>\n \u201cThe first quarter was a strong start to the year with accelerating growth in active buyers, revenue and our core U.S. business,\u201d said Devin Wenig, president and CEO of eBay Inc., in a statement. \u201cWe are on the right path as we continue to evolve our shopping platform for consumers, leverage our technology advantages and market a sharpened eBay brand globally.\u201d<\/p>\n Sports and concert ticket platform StubHub brought in $210 million in revenue, up 18 percent year-over-year, representing a growing portion of eBay\u2019s business.<\/p>\n EBay updated its guidance for the year, expecting between $9.3 billion and $9.5 billion in revenue for 2017.<\/p>\n The company also repurchased $350 million in common stock.<\/p>\n EBay recently announced a strategic partnership with Flipkart<\/a>, a large e-commerce platform in India. The company made a $500 million cash investment and is selling its eBay.in business to\u00a0Flipkart. Microsoft and Tencent also added to the\u00a0investment in Flipkart.<\/p>\n Shares closed Wednesday at $33.85, and went down about 3 percent in initial after hours trading. EBay shares have\u00a0gone up 34 percent in the past year.<\/p>\n The company split from PayPal in 2015.<\/p>\n","protected":false},"excerpt":{"rendered":"![\"\"](\"https:\/\/tctechcrunch2011.files.wordpress.com\/2017\/04\/ebay-berlin.jpg?w=680\")
EBay reported first-quarter results after the bell on Wednesday. The company posted an adjusted 49 cents per share, when Wall Street was forecasting 48 cents. EBay reported revenue of $2.2 billion, when analysts were expecting roughly the same at $2.21 billion. This is up 4 percent from last year. Read More<\/a><\/p>\n\n<\/img><\/a>
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