Online retailer eBay reported first quarter revenues at USD 2.2 billion, up 4 percent from the year earlier on a reported basis and 7 percent at constant currency. The company's net income climbed to USD 1.04 billion, or 94 cents per share in the quarter, from USD 482 million, or 41 cents per share, in Q1 2016. The improved performance was driven by Marketplace platforms, which delivered gross merchandise volume of USD 20.95 billion in the first quarter, up 2.4 percent on a reported basis, with the company adding two million active buyers across its platforms, for a total of 169 million worldwide. The company also repurchased USD 350 million in common stock.
Ebay’s StubHub ticketing operation posted an 18 percent year on year increase in revenues to USD 210 million, aided by strength in international markets with the integration of the Ticketbis acquisition. Classifieds were up 7 percent on a reported basis to quarterly revenues of USD 199 million, aided by the strong performance of its German platforms.
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