eBay Posts 29% Revenue Gain in 1Q, CEO Says Changes Ahead

eBay's revenue grew 29 percent in the first quarter year-over-year to $3.3 billion, and net income grew 20 percent to $570 million. The company released first quarter 2012 earnings on Wednesday, and eBay CEO John Donahoe sounded upbeat on a post-earnings conference call with Wall Street analysts. Donahoe said eBay's PayPal unit was focused on innovation and the eBay Marketplaces business had turned the corner, shifting from "defense" to "offense." He also said there would be a "steady stream of product enhancements on eBay" this year.