eBay’s efforts to revamp its business are paying off, as the company has reported better-than-expected results in the first quarter.

The online retail giant has posted a 5 percent revenue increase, beating analyst expectations. Following the announcement, eBay shares rose 2.1 percent to $24.98 in extended trading.

The solid results will give eBay the much-needed boost it needed to regain investors’ confidence.

eBay Q1 Earnings Up: Main Highlights

Some of the key takeaways of eBay’s first quarter results include the following:

  • Gross merchandise volume or the total value of all goods sold increased 1 percent to $20.45 billion.
  • Over 900 million live listings are now available at any time.
  • Number of active buyers rose 3.8 percent to 162 million.
  • Revenue in the second quarter is expected to be between $2.14 billion and $2.19 billion.

Commenting on the first quarter results, eBay President and CEO Devin Wenig said, “Q1 represents another quarter of solid results, as we continue to

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Source: Small Business Trends