eBay's Q1 net revenue down 2% YoY to $2.4B

Wednesday, 29. April 2020 22:26

eBay Inc. said on Wednesday its net revenue in the first fiscal quarter of 2020 fell 2% on an annual basis to stand at $2.4 billion. Operating expenses were 5% smaller at $1.22 billion. Net income fell 6% year-on-year to $485 million, or $0.64 per diluted share.

The e-commerce company said its gross merchandise volume was down 1% to $21.3 billion in the quarter, with nearly 1.2 million sellers promoting more than 310 million listings.

"As we look at Q1, I am pleased that we delivered on all of our commitments for the quarter, with key metrics such as Buyers, GMV and Revenue performing at or better than our expectations. Over the past several months, we have remained focused and clear-eyed about the strategic direction of the company and have driven substantial changes to position the business for sustainable and profitable long-term growth," interim CEO Scott Schenkel said.

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Breaking the News / MD