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eBay Beats, Q1 Earnings Up 11 Percent to $899M, Revenue Up 14 Percent To $4.3B

TechCrunch logo TechCrunch 30/04/2014 Leena Rao

eBay just first quarter earnings this afternoon, beating expectations. Non-GAAP earnings increased 11%, to $899 million or $0.70 per diluted share, over the prior year, driven by strong top line growth, says the company. Revenue for the first quarter increased 14% to $4.3 billion, compared to the same period in 2013

Analysts earnings of $0.67 per share on sales of $4.22 billion.

“We delivered a strong first quarter, with enabled commerce volume up 24 percent and revenue up 14 percent,” said eBay President and CEO John Donahoe in a release. “We are committed to delivering sustainable shareholder value and focusing on what matters most to our investors. We are executing our growth plans, capitalizing on the synergies in our portfolio and aggressively executing our $5 billion share buyback program. Today, we also announced a non-cash tax charge to facilitate repatriation of $6 billion net in foreign earnings, increasing our available U.S. cash and enhancing our financial flexibility.”

Coming off of a , the company’s quarter has been marked by a now settled battle with activist shareholder and investor Carl Icahn that PayPal should be spun off, or sold. Icahn also issued a number of accusations around board mismanagement. In the end, Icahn with eBay, and he and the company added a mutually agreed upon board member, David W. Dorman, a former chief executive of AT&T, to the board.

In terms of product, eBay has been attempting to add think more creatively when it comes to ecommerce and marketplaces. The company is reportedly going to an online mall for retail goods; and to integrate virtual try on technology into its marketplace. eBay also saw s software division.

PayPal debuted a for merchants. And there are the vying to be part of Apple’s big payments push.

We’ll be listening to the call and will update with notable comments.

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