EBay Inc reported better-than-expected quarterly earnings and raised its full-year revenue forecast as a revamped shopping platform attracted more buyers, mitigating growth concerns following its spinoff of PayPal Holdings Inc.
The e-commerce company has been executing its plan to offer a bigger selection of products, new brands and more small business sellers on its platform, along with getting sellers to offer detailed product data and reviews, Chief Executive Devin Wenig said on a conference call. The company said its gross merchandise volume, or the total value of all goods sold on its sites, rose 1 percent to $20.45 billion in the first quarter ended March 31. The number of active buyers rose 3.8 percent to 162 million.
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