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eBay's first-quarter net income soars 20 per cent

Results driven by higher revenue from PayPal and strong sales at its e-commerce sites.

The online shopping website eBay has reported a net income of $570m for the first quarter ended 31 March 2012 – an increase of 20 per cent, compared to $476m for the same period last year.

Diluted earnings per share were $0.44, a year-on-year increase from $0.36; this was largely driven by strong top-line growth.

Net revenue increased 29 per cent to $3.28bn, against $2.55bn last year.

John Donahoe, president and CEO of eBay, said: 

The first quarter was a strong start to the year for us with momentum continuing in our Marketplaces, PayPal and GSI Commerce businesses. 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.

Revenue of the company’s PayPal money transfer service was $1.31bn, an increase of 32 per cent compared to $993m for the same period last year. This was driven primarily by increased penetration on eBay, as well as continued merchant and consumer adoption.

PayPal ended the quarter with 109.8 million active registered accounts, a 12 per cent increase over the first quarter of 2011. PayPal’s net total payment volume also grew 24 per cent to $34bn.

Marketplaces also performed better during the quarter. Gross merchandise volume excluding vehicles increased 12 per cent to $16bn.

GSI generated $715m in global e-commerce merchandise sales during the quarter and contributed $237m in revenue. Same-store sales grew 26 per cent year-over-year, reflecting strong ecommerce sales from retail clients.

For the second quarter and full-year 2012, eBay expects net revenues in the range of $3.25m-$3.35m and $13.8m-$14.1m, respectively.


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We're hiring! Join the New Statesman as an editorial assistant

The NS is looking for a new recruit.

The New Statesman is hiring an editorial assistant, who will work across the website and magazine to help the office run smoothly. The ideal candidate will have excellent language skills, a passion for journalism, and the ability to work quickly and confidently under pressure.

The job is a broad one – you will need to understand the requirements of both halves of the magazine (politics and culture) as well as having an interest in the technical requirements of magazine and website production. Experience with podcasts and social media would be helpful.

The right person will have omnivorous reading habits and the ability to assimilate new topics at speed. You will be expected to help out with administration tasks around the office, so you must be willing to take direction and get involved with unglamorous tasks. There will be opportunities to write, but this will not form the main part of the job. (Our current editorial assistant is now moving on to a writing post.)

This is a full-time paid job, which would suit a recent graduate or someone who is looking for an entry into journalism. On the job training and help with career development will be offered.

Please apply with an email to Stephen Bush (Stephen. Bush @ with the subject line ‘Editorial Assistant application’.  

In your covering letter, please include a 300-word analysis of the strengths and weaknesses of the New Statesman. Please also include 500 words on what you consider to be the most interesting trend in British politics, and your CV as a Word document. 

The deadline for applications is noon on Monday 12th October.