eBay Releases 1st Quarter Earnings, PayPal slows down the growth

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A profit rise of 19% and a revenue jump of 14% have been reported for the 1st quarter. The growth is boosted by sales in the marketplace section that includes its official website eBay.com. An increase of 13% is experienced at the marketplace.

According to eBay, the company has been able to draw in 3.9 million new users. The company attributed the rise in figures to the fact of making the site more attractive for the buyers and sellers looking for an alternative to Amazon.com Inc.

In spite of the growth, it’s not as good as it was a year back. For eBay, last year’s growth was 29% compared to this year’s mere 14%.  This is predominantly because of the slowing growth of PayPal payments unit. The payment processor is facing stiff competition from other payment processors such as, Amazon, Intuit Inc. etc.

 

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