eBay Inc. reported record financial results on Tuesday for its first quarter ended March 31, 2003. The company also increased guidance, saying it now expects that revenues for 2003 could be as high as $2.05 billion, $150 million higher than the company's most recent guidance.

eBay reported record consolidated Q1-03 net revenues of $476.5 million. GMS, the total value of items sold, were a record $5.32 billion. Consolidated net income in Q1-03 was a record $104.2 million, or $0.32 per diluted share. Gross profit was a record $384.4 million, or 81% of net revenues.

Payments segment net transaction revenues reached a record $93.2 million in Q1-03, driven by PayPal total payment volume (TPV) of $2.63 billion.

eBay said it has 31.1 million active users, the number of users on the eBay platform who bid, bought or listed over the trailing twelve months. (This is the number of active User IDs, not unique users.)

Listings totaled a record 220 million in Q1-03, 59% higher than the 138 million in Q1-02.

Based on Q1-03 annualized GMS, eBay has eight categories that are more than $1 billion in worldwide GMS: eBay Motors at $5.3 billion; Computers at $2.1 billion; Consumer Electronics at $2.1 billion; Books/Movies/Music at $1.6 billion; Sports at $1.3 billion; Collectibles at $1.2 billion; Clothing and Accessories at $1.2 billion; and Toys at $1.1 billion.

eBay's fixed price trading contributed approximately $1.40 billion or 26% of total GMS during Q1-03, primarily from eBay's "Buy It Now" feature. Pure fixed price, which allows sellers to offer items for a set price rather than in an auction format, accounted for 10% of eBay's global GMS.

eBay said it hosts approximately 100,000 stores, including nearly 50,000 sellers on eBay.com, and more than 50,000 sellers internationally.

In a conference call after earnings were filed, CFO Rajiv Dutta said the plans to allow eBay users to pay for fees using PayPal was, "a program that is very much in the works."