Lates News

eBay reported growth in profit and revenue for the first quarter and appointed a new Chief Financial Officer. The company announced on Wednesday that first quarter profit was $503 million, or $1.06 per share, compared to $438 million, or $0.85 per share, in the same period last year. Adjusted earnings per share were $1.38, higher than the analysts' previous estimate of $1.34 according to FactSet. Revenue increased by 1% to $2.59 billion, exceeding analysts' expectations of $2.55 billion. The total value of goods traded increased by 1% to $18.75 billion. The operating profit margin for eBay in this 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 resign on May 11 and Peggy Alford will take over as Chief Financial Officer 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.