Overall revenue for the first quarter of 2009 was $2.02 billion, down 8 percent from the same quarter of 2008. Net income also fell 11 percent year-over-year, but earnings per share of 39 cents beat Wall Street's projection of 33 cents.
"We delivered solid Q1 results, exceeding expectations in a tough economy," states eBay CEO John Donahoe.
Small victories aside, the company's main business, eBay.com, saw deterioration continue, both in terms of traffic and sales volume. As expected, businesses outside of eBay.com put in strong performances for the quarter, with healthy growth in Payments, Classifieds and Skype.
Marketplace revenue was down 18 percent from the same quarter in 2008, to $1.22 billion. The precipitous drop came despite strength in the online classifieds portion of the division, which posted 23 percent growth. Marketplace gross merchandise volume was $10.8 billion, down 16 percent year-over-year."