eBay Announces CFO Departure, New Leadership Amid Strong Quarterly Earnings

MEXICO CITY, Mexico – E-commerce giant eBay announced on Wednesday that Chief Financial Officer Steve Priest will step down in May. He will be succeeded by Peggy Alford, formerly a vice president at PayPal.

The announcement came as eBay reported better-than-expected quarterly revenue, reflecting robust demand for collector’s items and refurbished goods. CEO Jamie Iannone highlighted the company’s successful focus on luxury and collectible items as a strategy during a time of moderated consumer spending caused by high inflation.

eBay’s first-quarter revenue reached $2.59 billion, surpassing analysts’ average estimate of $2.55 billion. Gross merchandise volume, an important industry metric denoting the total value of goods sold on the marketplace, rose 1% to $18.8 billion for the quarter ending March 31. Adjusted earnings per share of $1.38 also exceeded the expected $1.34.

Looking ahead, eBay projects second-quarter revenue between $2.59 billion and $2.66 billion, surpassing the analysts’ average estimate of $2.60 billion.

The company continues to innovate, leveraging generative AI technologies like its “magical” listing tool and enhancements in search and targeted advertising to streamline the buying and selling experience for users.

eBay remains a leader in the online marketplace, serving diverse geographical markets including the United States, United Kingdom, China, and Germany.