technology news Beijing time on April 23rd morning news, eBay on Wednesday announced the first quarter ended March 31st earnings. In the quarter, eBay net profit of $626 million, compared to $2 billion 320 million loss for the same period last year.
the same period last year, eBay has a high one-time tax costs. Excluding tax expenses, eBay first quarter net profit rose 4.8%. In addition, eBay first quarter revenue grew 4% to $4 billion 450 million, more than analysts expected an average of $4 billion 420 million.
earnings report, eBay’s two largest business showing a trend of differentiation. EBay market revenue fell 4% to $2 billion 70 million. Over the past 4 quarters, eBay electricity supplier business growth has shown a downward trend. In the first quarter, eBay’s business has declined for the first time since 2009.
as a contrast, eBay’s PayPay payment business revenue of $2 billion 100 million, an increase of 14%, higher than last year’s $1 billion 845 million.
eBay will spin off later this year PayPal. At the same time the spin off, eBay will lay off 2400 people, accounting for the global workforce of 7%. EBay also said it would consider selling eBay business, or to promote the listing of the business. EBay business for third party sellers to provide warehousing and logistics services.
after the spin off, eBay market weakness may be more concerned about the business. Over the past few months, eBay executives believe that the adjustment of Google search algorithm to bring a problem for eBay, and information security incidents is also one of the reasons leading to weak growth in electricity supplier business eBay.
analysts hope that eBay’s business can achieve positive results. RBC capital markets analyst Mark · (Mark Mahaney), said: eBay market operations in the past 4 to 5 quarters in trouble. What will eBay do to restore growth? "