- 20 April 2017
- Transport / Logistics Services
Online marketplace eBay has reported a Q1 revenue of US $2.2 billion and a Gross Merchandise Volume (GMV) of $20.9 billion. The GMV increased by 2% year on year, a total of $1.8 billion more than the same period in 2016.
“The first quarter was a strong start to the year with accelerating growth in active buyers, revenue and our core U.S. business,” said Devin Wenig, President and CEO of eBay Inc. “We are on the right path as we continue to evolve our shopping platform for consumers, leverage our technology advantages and market a sharpened eBay brand globally.”
As previously reported by Apex Insight, eBay recently announced a strategic agreement with the Indian e-commerce player, Flipkart. In the statement on its Q1 results, eBay added: “In exchange for an equity stake, eBay will make a $500 million cash investment in and sell its eBay.in business to Flipkart. The companies will also exclusively pursue cross-border trade opportunities together.”
While eBay has lagged behind major rivals including Amazon in part due to its lack of control over delivery speeds, the online marketplace recently announced plans to speed up delivery for goods bought from its sellers. As this comes to fruit, we will report on how this manifests. It will also be interesting to see if the next day delivery operation will serve to boost revenues for the firm, and if so by how much? Judging by Amazon’s rocketing profit growth things could be very interesting indeed for eBay should it speed up deliveries…
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