SAN JOSE, Calif. — Global commerce platform and payments leader eBay reported double digit growth in revenue and net income for the first quarter ended March 31.
eBay reported a revenue increase of 14% to $3.7 billion, and its net income, adjusted to exclude non-recurring expenses, increased 14% to $829 million, compared to the same period in 2012.
Downloads of eBay's suite of mobile apps expanded the company's overall commerce footprint, surpassing 162 million since launch in the third quarter of 2008. eBay gained approximately 2.8 million new customers in the period through mobile, driving double-digit growth in active users at both PayPal and Marketplaces. Total company enabled commerce volume grew 19% totaling $49 billion. ECV equals Marketplaces GMV, PayPal Merchant Services TPV and GSI GeC Merchandise Sales not earned on eBay or paid for via PayPal or Bill Me Later.
"We had a strong first quarter, with accelerating user growth across both Marketplaces and PayPal, and with GSI enabling their retail clients to grow faster than ecommerce," said John Donahoe, eBay Inc. president and CEO. “Technology is creating a commerce revolution, and we are in the forefront with strong mobile leadership and a focus on helping retailers and brands engage consumers anytime, anywhere."
The company's PayPal business delivered strong first quarter performance with revenue increasing 18% to $1.5 billion. PayPal gained 5 million active registered accounts in the period and ended the quarter with 128 million, a 16% increase. PayPal's net total payment volume grew 21% to $41 billion, driven by consumer and merchant use of PayPal both on and off eBay. PayPal continues to invest in growing its addressable market, product development, customer engagement and consumer awareness. The company's mobile payment solution for small business, PayPal Here, became available for sale at more than 2,700 SoftBank locations across Japan and the iPad version of the product was launched in the U.S. PayPal also announced the chip and PIN version of PayPal Here in the U.K. which it plans to roll out this summer. PayPal's offline initiatives are now live in almost 20,000 major retail locations in the U.S.
The company's Marketplaces business also delivered strong first quarter performance with revenue increasing 13% to $2.0 billion. Market