eBay Beats; Q1 Revenue Up 29 Percent To $3.3B; Net Income Up 20 Percent

eBay just reported stronger than expected first quarter 2012 earnings today. Revenue increased 29% to $3.3 billion, compared to the same period of 2011. Non-GAAP earnings came in at $0.55 per diluted share. Analysts expected earnings of $0.52 per share on revenue of $3.15 billion. Net income came in at $570 million for the quarter. "The first quarter was a strong start to the year for us with momentum continuing in our Marketplaces, PayPal and GSI Commerce businesses," said eBay President and CEO John Donahoe. "We believe that innovation in retail today is technology driven, and consumers are embracing smarter, easier, better ways to shop. We are enabling commerce in this new retail environment, supporting and partnering with sellers of all sizes and giving consumers worldwide the ability to shop anytime, anywhere, for whatever they want.?

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