EBay Inc. reported a first quarter revenue of $2.02 billion, a $171.6 million year-over-year loss. The online auction house posted earnings of 357.1 million, down 22% from a year ago.
The e-commerce company said the drop is due to the “decline of the core marketplaces business in difficult macroeconomic conditions.”
The company said its PayPal, Classifieds and Skype subsidiaries performed well, delivering year-over-year revenue growth.
Text and graphical advertising revenue was flat as compared to the prior-year quarter.