eBay's first quarter profit and revenue both saw double growth, and a new CFO has been appointed.

eBay's first quarter profit and revenue both saw growth, and a new Chief Financial Officer has been appointed. The company announced on Wednesday that first quarter profit was $503 million, or $1.06 per share, up from $438 million, or $0.85 per share, in the same period last year. Adjusted earnings were $1.38 per share, higher than the $1.34 per share analysts had previously expected, according to FactSet. Revenue increased by 1% to $2.59 billion, surpassing analysts' expectations of $2.55 billion. Gross merchandise volume grew by 1% to $18.75 billion. eBay's operating profit margin for the quarter decreased slightly from 24.7% in the same period last year to 23.8%. eBay also announced that Chief Financial Officer Steve Priest will be stepping down on May 11 and Peggy Alford will take over as CFO starting on May 12. eBay stated that Alford has over 20 years of experience in leading financial, operational, and global teams in the technology industry.