Online auction site eBay and its e-payments subsidiary PayPal both reported a solid third quarter. Growth in mobile trading helped boost eBay’s revenue up 14pc to US$3.9bn from the year-ago quarter, while PayPal generated a 19pc rise in revenue to US$1.6bn.
Third-quarter net income at eBay amounted to US$689m, or US$0.53 per diluted share.
PayPal gained 5.0m active registered accounts and ended the third quarter with 137m accounts, reflecting an increase of 17pc.
PayPal’s net total payment volume also increased, by 25pc, to US$44bn, driven by consumer and merchant use of PayPal both on and off eBay.
Mobile has driven a significant portion of eBay Inc’s new user growth, said John Donahoe, president and CEO, eBay Inc.
“Our scale and experience, the strength of our global commerce platforms, our technology assets and our mobile commerce capabilities strongly position us to be a leader in the commerce revolution under way,” Donahoe said.
“In the past 12 months, we have enabled US$200bn of commerce volume, a 20pc increase in a fairly lacklustre macro environment. That growth demonstrates the strength of our core businesses and our power as a partner, not a competitor, to merchants, brands and retailers.”
eBay sign image via Shutterstock