EBay posts Q1 gains

EBay Inc. said consolidated net revenues for the first quarter ended March 31 rose 27 percent to $1.77 billion.

The San Jose, CA-based Internet company's net income increased 52 percent year over year to $377 million, or 27 cents per diluted share.

Ebay's registered user base at the end of the first quarter totaled 233 million for a 21 percent gain over last year. Users of eBay generated a total of 588 million listings in the first quarter for a 2 percent increase over last year. eBay's marketplace business reported a 23 percent increase in net revenues for the quarter for a total of $1.25 billion.

PayPal's net revenues increased 31 percent to $439 million. PayPal had 143 million accounts at the end of the first quarter for a 36 percent gain over last year. Those accounts helped drive total payment volume of $11.36 billion, a 30 percent increase over last year.

PayPal Merchant Services contributed $4.38 billion of the $11.36 billion. That represented a 51 percent increase over last year.

In the communications business, Skype reported net revenues increased 123 percent to $79 million. It had 196 million registered users at the end of the first quarter, a 107 percent increase from last year.