Boston, MA 05/02/2014 (wallstreetpr) – Recently, eBay Inc (NASDAQ:EBAY) has announced the results for the first quarter of this year. The first quarter for eBay ended on March 31. 2014. The results look positive. They have increased as compared to the previous year. This signifies that eBay is growing and is moving forward on the path of success. eBay was reported to be involved in a proxy battle with Carl Icahn, but the fight seems to have settled now.
Results reported for Q1
eBay Inc (NASDAQ:EBAY) reported the total revenue for the first quarter as $4.3 billion. This increased by 14% as compared to the revenues of the last year for the same quarter. The company also reported that the non-GAAP earnings have increased by 11% and amount to a total of $899 million, which is also equal to $0.70 per diluted share. The reported that the first quarter experienced a total GAAP loss of $2.3 billion, which is also equal to $1.82 per diluted share because of the distinct tax charge of almost $3.0 billion.
eBay reported that the part it has been playing in global commerce continues to progress and grow. The Chief Executive Officer and President of eBay, namely John Donahoe, said that the company has made a commitment to deliver sustainable shareholder value. They believe in focusing on things that are most important and that matter the most to the investors of the company.
The dust has settled
eBay has reached an agreement with Carl Icahn and Mr. Cahn has agreed to take, his proposal of separating eBay’s PayPal business from eBay Inc (NASDAQ:EBAY), off the table. But in turn eBay has agreed to take David Dorman as an independent director in the Board of Directors. The reason behind and the terms of the agreement, whatever they may be, we are just glad that the fight has ended, and the dust has settled.
