eBay’s efforts to shift toward quality rather than quantity resulted in a jump in first quarter earnings.
A glut of essentially worthless items was causing a stagnant performance for the company that’s taken over the collectibles market.
eBay took steps to change that late last year and despite some grumbling, the move has paid off. eBay earned $377.2 million, or 27 cents per share, for the three months ended March 31, compared with $248.3 million, or 17 cents per share a year ago.
"Last year, they were a trailer park, and this year they want to be a luxury condo," analyst Rick Munarriz told the Associated Press. "The current users are being milked more, but they keep coming back, so the formula is working."