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Edition: U.S. Article Comments (0) Technology Sony faces global legal action over data theft Exclusive: Facebook investors look for exits Samsung launches Galaxy S sequel Sprint pumps up revenue with new fees Panasonic to axe thousands of jobs, close plants EBay forecast pleases on user gains Follow Reuters Facebook Twitter RSS YouTube Read Exclusive: Facebook investors look for exits 9:23am EDT Storms knock out TVA nuclear units, power lines 27 Apr 2011 Tornadoes and storms rip through South, more than 220 dead | 11:40am EDT Honolulu has best air in U.S., Los Angeles and others the worst: report 5:47am EDT William and Kate "deeply touched" by well-wishers | 8:50am EDT Discussed 150 Texas governor calls for prayers for rain 139 Obama sees no magic bullet to push down gas prices 93 White House releases longer Obama birth certificate Watched Fire ants form rafts to defy floods Tue, Apr 26 2011 Nokia announces layoffs, outsourcing Wed, Apr 27 2011 Simon the robot requests your attention Tue, Apr 26 2011 EBay forecast pleases as PayPal, auctions gain users Tweet Share this By Phil Wahba NEW YORK (Reuters) - EBay Inc's efforts to make its marketplaces more appealing to online shoppers paid off in the first quarter as more people bought items on its auction site, and its PayPal payment system was used by more... Email Print Related News UPDATE 6-Thomson Reuters Q1 revenue up, plans asset sales 9:42am EDT UPDATE 5-Boeing profit up on better production; revenue slips Wed, Apr 27 2011 UPDATE 5-Dr Pepper beats, keeps view despite cost spikes Wed, Apr 27 2011 Amazon, spending aggressively, expects rosy revenue Tue, Apr 26 2011 UPDATE 5-Broadcom revenue forecast disappoints, shares fall Tue, Apr 26 2011 Analysis & Opinion Deals wrap: Facebook investors look for exits From books to homes: Swap your way to big savings Related Topics Technology » Media » Stocks Visitors pass the Ebay logo at the CeBIT computer fair in Hanover March 2, 2011. Credit: Reuters/Tobias Schwarz By Phil Wahba NEW YORK | Thu Apr 28, 2011 10:25am EDT NEW YORK (Reuters) - EBay Inc's efforts to make its marketplaces more appealing to online shoppers paid off in the first quarter as more people bought items on its auction site, and its PayPal payment system was used by more merchants. EBay said on Wednesday that first quarter revenue rose 15.9 percent to $2.55 billion, fueled by a 23 percent rise at PayPal and a 12 percent increase at its marketplaces, beating Wall Street forecasts of $2.48 billion. The company's revenue forecast for the current quarter and 2011 also beat Wall Street expectations. EBay is in the final stages of a three-year plan to revitalize its marketplaces unit, whose growth had slowed. "It's proof that eBay is doing a good job of matching buyers with quality sellers," said Colin Gillis, an analyst with BGC Partners. The battle for online shoppers has grown fiercer. To fight online retailer Amazon.com Inc, eBay has made a number of deals in recent months, including a $2 billion purchase in March of e-commerce services firm GSI Commerce to get more businesses to sell to their customers using eBay's services. "We're focused on redefining retail and leading the next generation of commerce and payments," eBay Chief Executive John Donahoe told analysts on a conference call. Donahoe pointed to the example of the New York Times, which recently began charging for online subscriptions and allows readers to pay with PayPal, to show the system's growing appeal. During the first quarter, which ended March 31, active users rose 5 percent and Donahoe said they would hit the 100 million threshold in the current quarter. MARKETPLACES GAIN POPULARITY PayPal has led the company's revenue growth for years, while its marketplaces unit has matured. Last year, revenues at PayPal grew nearly three times faster. Gross merchandise volume excluding vehicles, a closely watched measure of the total value of goods sold, rose 8 percent to $14.5 billion, faster than Gillis expected, helped by more transactions and more being spent per purchase. The marketplaces' 12 percent revenue growth this quarter was markedly higher than any quarter last year. Net income for the first quarter, which ended on March 31, was $476 million, or 36 cents per share, compared with $398 million, or 30 per share, a year earlier. On an adjusted basis, eBay earned 47 cents per share, beating analyst forecasts by a penny, according to Thomson Reuters I/B/E/S. For the current quarter, eBay is expecting adjusted earnings of 45 cents to 46 cents per share on revenue between $2.55 billion and $2.65 billion. That compares to analyst forecasts of 46 cents per share on revenues of $2.52 billion. For all of 2011, eBay raised its forecast $1.93 to $1.97 per share on revenues of $10.6 billion to $10.9 billion, above analyst forecasts of $1.94 per share on revenues of $10.48 billion. EBay's Chief Financial Officer Bob Swan said the company had raised the full year sales forecast by $300 million on both ends because of a weaker U.S. dollar and improvements in its marketplaces. Ebay's shares were up 1 percent in after-hours trading. They closed the day up 2.9 percent. (Reporting by Phil Wahba, editing by Bernard Orr) Technology Media Tweet this Share this Link this Digg this Email Reprints We welcome comments that advance the story directly or with relevant tangential information. We try to block comments that use offensive language, all capital letters or appear to be spam, and we review comments frequently to ensure they meet our standards. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. Comments (0) Be the first to comment on reuters.com. Add yours using the box above. 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Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests. NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

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