eBay and PayPal deliver strong third-quarter financial results

18 Oct 20122 Shares

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Third-quarter revenue for online auction giant eBay shot up 15pc to US$3.4bn and profit rose 14pc to US$718m, or US$0.55 per share, compared to the year-ago period.

EBay-owned online payments giant PayPal also delivered a strong third-quarter performance. PayPal ended the quarter with 117.4m active registered accounts, a 14pc increase over the same period last year. 

PayPal’s revenue jumped 23pc year-over-year and net total payment volume (TPV) grew 20pc year-over-year to US$35.2bn.

“We had a great third quarter across our company, with Marketplaces and PayPal accelerating customer growth,” said John Donahoe, eBay Inc. president and CEO.

“Mobile continues to be a game-changer for us, and we continue to be a clear leader in mobile commerce and payments. 

“With our strong portfolio and global reach, we are consistently demonstrating our capabilities to help consumers shop anytime, anywhere. And we are enabling retailers of all sizes to compete in a rapidly evolving, multichannel commerce environment,” Donahoe added.

EBay has forecast fourth-quarter revenue of US$3.85bn to US$4bn and profit of US$0.66 cents to US$0.69 cents per share.

eBay image via goldenangel/Shutterstock.com

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Tina held senior editorial positions at daily newspapers in Ottawa and Toronto

editorial@siliconrepublic.com