eBay reported first quarter 2009 earnings results a few minutes ago. First quarter revenue was $2.02 Billion (a $171.6 million decrease year-over-year) . Net income on a GAAP basis was $357.1 million ($0.28 per diluted share), and non-GAAP net income was $499.9 million ($0.39 per diluted share).

eBay Inc. generated $668.5 million of operating cash flow during Q1 and free cash flow during the quarter was $577.6 million.

I will once again live-blog the earnings call on our Twitter feed (http://twitter.com/ebayinkblog) at 2pm PT this afternoon.

I will be updating the eBay Ink News page throughout the day with Fast Fact documents for eBay Inc., PayPal, Skype, the press release, earnings call and all related items to Q1FY09 for eBay Inc.

Cheers,
RBH