EBay 1st-qtr profit, sales fall on weak economy

NEW YORK (AP) — EBay's earnings and revenue have fallen for the second quarter in a row, hampered by the weak economy. But they beat analysts' expectations.

The first-quarter results Wednesday show the San Jose, Calif.-based company is still struggling with the economy and efforts to improve its online marketplace.

EBay Inc. says it earned $357.1 million, or 28 cents per share, in the first quarter. This is down from $459.7 million, or 34 cents per share, in the year-ago quarter.

When excluding items, eBay says it earned 39 cents per share; analysts polled by Thomson Reuters expected 33 cents per share.

The company says revenue fell 8 percent to $2.02 billion. Analysts expected $1.94 billion.

Marketplaces revenue fell 19 percent, while online payments revenue climbed 8 percent.