Ebay (NASDAY: EBAY), reported a rise in profits in Q1 earnings.
Net income ws up $377.2m (.27c/share) over $248.3m (17c) for the same period last year on income of $1.77m (above analysts’ expectations of $1.72m).
The Paypal payments division showed growth with revenue up 31% to revenues of $439m. The communications division, home of Skype, showed revenue of $ 79m (up from $66m in Q4). Skype saw an 11% increase in calls and a 135% increase of fees, numbers I suspect, much lower, than eBay has been hoping for.
While profit margins were up, along with revenue and that was spun as a very positive piece of news, auction volume in the increasingly efficient auction marketplace was flat. Non-store listings were up 4% over last year, but down 4% from Q4. It was the third time in the last four quarters eBay failed to see quarter-to-quarter growth in auction listings. Its European focus was also less than expected.
Initial market reaction to the news was mixed.
More detailed press coverage on Ebay’s finances can be found at: