eBAY INC.

                    CONDENSED CONSOLIDATED STATEMENT OF INCOME
               (in thousands, except per share amounts; unaudited)

                                               Three Months Ended March 31,
                                                        1999           2000

    Net revenues                                     $42,801        $85,753
    Cost of net revenues                               7,977         23,272
        Gross profit                                  34,824         62,481
    Operating expenses:
      Sales and marketing                             16,958         33,940
      Product development                              2,163         11,119
      General and administrative                       7,614         15,794
      Amortization of acquired intangibles               328            275
      Payroll taxes on option exercises                   --            901
        Total operating expenses                      27,063         62,029
    Income from operations                             7,761            452
    Interest and other income, net                       275         10,390
    Income before income taxes                         8,036         10,842
    Provision for income taxes                       (4,271)        (4,554)
    Net income                                        $3,765         $6,288
    Net income per share:
      Basic                                            $0.04          $0.05
      Diluted                                          $0.03          $0.05
    Weighted average shares:
      Basic                                           97,681        118,926
      Diluted                                        132,327        138,222