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EBay CEO: Big changes coming this year to Marketplace platform


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EBay CEO: Big changes coming this year to Marketplace platform

EBay Inc.President and CEO Devin Wenig on April 26 highlighted efforts to revamp thecompany's e-commerce platform, including mobile, to improve the user experienceand make products easier to find.

Among the changes, Wenig touted the potential of astructured data initiative, under which eBay is requiring more sellers toprovide product data. The company earlier this year expanded the effort byasking sellers in France, Italy and Spain to provide the data and expandingcoverage to eight more categories.

"This [data] initiative … is how we are organizing ourvast inventory and beginning to better aggregate insight into supply anddemand," Wenig said. "This is ultimately the foundation on which wewill build better user experiences, and improve discoverability on and offeBay."

Wenig stressed that this was just one of many changes comingto eBay in the near term. An improved mobile platform currently in testing isexpected to roll out to customers soon, and a new site experience is slated togo live in the next six months.

"From the way we're organized, to the way we acquireinventory, to the way we replatform, to the way we expose that inventory in theproduct. I think you will see parts of the eBay shopping experience change morein the next several months than they have arguably in years," the CEOsaid.

The changes are aimed at helping to improve the company'sgross merchandise volume, which gained 1% year over year, or 5% on aforeign-exchange neutral basis, to $20.45 billion in the first quarter. Activebuyers grew 4%, to 162 million.

EBay on April 26 reported first-quarter GAAP net income fromcontinuing operations of $482 million, or 41 cents per share, up from year-agoincome of $449 million, or 37 cents per share. On a non-GAAP basis, firstquarter net income from continuing operations came to $550 million, or 47 centsper share, down from $586 million, or 48 cents per share, in the year-agoperiod.

The S&P Global Market Intelligence consensus estimatefor the first quarter was 45 cents per share on a normalized basis and 37 centsper share on a GAAP basis.

The company's net revenue for the quarter came to $2.14billion, up 6% on an FX-neutral basis and 4% on an as-reported basis.

Looking ahead, eBay expects second-quarter net revenues of$2.14 billion to $2.19 billion, representing FX-neutral growth of 4% to 6%. Thecompany forecasts non-GAAP EPS from continuing operations in the range of 40cents to 42 cents and GAAP EPS from continuing operations of 32 cents to 34cents. For the full year, the company expects net revenue between $8.6 billionand $8.8 billion, representing FX-neutral growth of 3% to 5%.