eBay Sets Sights On $1B In Revenue From Advertising

eBay has been shifting its advertising efforts away from non-strategic third-party ad placements toward the company’s first-party Promoted Listings product, and it seems to be paying off. The marketplace on Tuesday reported $2.6 billion in revenue and adjusted earnings of 67 cents per share, beating analysts' expectations of $2.58 billion and earnings of 63 cents a share. Devin Wenig, president and CEO of eBay, during the earnings call said the company’s initiatives to create a next-generation payment and advertising experience for the marketplace are on track. It will contribute to the $1 billion in revenue from advertising, he estimates. “We delivered a solid first quarter, driven by healthy buyer growth, strong advertising performance and disciplined cost control,” he said, as if to prove the company is on track to make a comeback against rival like Amazon.

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