eBay Revenue Jumps 25 Percent during Second Quarter

By Ed Silverstein July 22, 2011

Revenues at eBay during the second quarter increased some 25 percent – compared to the same time period last year – working out to just under $2.8 billion. Analysts had predicted quarterly revenue of $2.61 billion, according to BusinessInsider. According to a report carried on TechZone360, net income for the recent quarter was $283.4 million (GAAP), which represents a 31 percent decrease – due in part to the company’s acquisition of GSI Commerce.

“Second quarter revenue and earnings were strong, with PayPal surpassing 100 million active registered accounts and reporting its first billion-dollar revenue quarter, and eBay growth in the U.S. accelerating,” eBay President and CEO John Donahoe said in a company press release. “We also strengthened our portfolio in Q2 with acquisitions that we believe will more broadly position us to enable the future of commerce. We will partner with retailers of all sizes to help them grow in a rapidly shifting, technology-driven multichannel commerce environment, and we will help consumers shop and pay anytime, anywhere, any way.”

The company’s PayPal business ended the quarter with 100.3 million registered accounts, a 15 percent increase from the same period in the prior year. PayPal also saw its first billion dollar revenue quarter.

PayPal also saw strength in mobile payments and predicts over $3 billion in mobile TPV (total payment volume) in 2011, compared to $750 million in 2010, the company said.

In addition, eBay’s Marketplaces business continued to see innovation in areas like the mobile sector, “where downloads of eBay’s portfolio of mobile applications surpassed 45 million globally since the launch of mobile in the third quarter of 2008,” the company said.

During the upcoming third quarter, eBay predicts it will have net revenues in the range of $2.850 billion to $2.950 billion. For the full year of 2011, eBay predicts net revenues in the range of $11.300 billion to $11.600 billion.

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Ed Silverstein is a TechZone360 contributor. To read more of his articles, please visit his columnist page.

Edited by Jennifer Russell

TechZone360 Contributor

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