eBay achieves strongest growth in 16 years

Auction site eBay has had an exceptional quarter: its turnover rose by 42 % – the biggest growth in sixteen years – following a year in which it was already growing strongly, thanks to the Covid-19 crisis.

Turnover up 42 %

In the first three months of the year, eBay’s turnover rose by 42 % to 3 billion dollars (almost 2.5 billion euros), while the gross trading volume increased by 29 % to 27.5 billion dollars (23 billion euros). Net profit increased by almost a third and landed at 569 million dollars (470 million euros).

The American auction site saw significant growth in its core categories: sales of luxury watches grew by 38 %, while trading in high-end trainers more than doubled. Refurbished products are becoming increasingly important as well: eBay expanded its Certified Refurbished programme to 150 brands in the United States and launched the service in the United Kingdom, Canada and Germany.

For the second quarter, eBay expects a turnover between 2.98 and 3.03 billion dollars (about 2.5 billion euros), representing a growth of 8 to 10 %. The net profit is expected to be in the 465-500 million dollar (380-410 million euro) fork.