Revenues jump 52pc in third quarter for eBay

21 Oct 2004

Online auction giant eBay has reported a record 52pc year-over-year increase in net revenues of US$805.9m driven by growing momentum on what is now renowned as the world’s largest online marketplace.

Its Q3 performance exceeded even its own expectations of US$770m for net revenues. “An active community of users and strong demand helped us achieve robust results. We have excellent momentum going into eBay’s traditionally strongest quarters,” commented Meg Whitman, president and CEO of eBay.

Total users on eBay’s website at the end of Q3 reached a record 125 million people. Active users who bought, traded or sold an item in the past 12 months increased 38pc to 51.7 million users. The total value of all successfully concluded listings on eBay increased 44pc year over year to US$8.3bn.

In September 2003, eBay’s subsidiary PayPal announced that it had selected Dublin as its location for investment in Europe, with the support of IDA Ireland. The customer support centre in Blanchardstown is eBay’s second in Europe and supports users in the UK, Ireland and other European countries. PayPal’s international HQ there will support the company’s expansion into Europe and carries out functions such as customer services, payment processing and fraud prevention.

The eBay/PayPal venture is projected to employ 800 people by 2005 in Blanchardstown, where eBay is establishing its European customer support centre and PayPal its international HQ. More than 200 people have been recruited and many more positions are to be filled over the coming months.

By John Kennedy