The year 2011 ended on a financial high note for e-commerce giant eBay, as the company’s revenue for the fourth quarter ended 31 December 2011 jumped 35pc to US$3.4bn, compared to the same period of 2010.
The company reported fourth quarter net income of US$1.98bn, an increase from US$559m in the same period the previous year.
“We had a strong fourth quarter finish to an excellent year, increasing our confidence in our three-year outlook,” said eBay Inc. president and CEO John Donahoe.
“Across eBay, PayPal, GSI and X.commerce, we have a robust portfolio of global commerce platforms and innovative mobile, local and social commerce technology assets. We are well-positioned to compete in the emerging new retail environment, and to help retailers of all sizes grow and engage their customers anytime, anywhere."
EBay’s sale of its remaining stake in Skype helped its earnings growth, the company said. Microsoft acquired Skype for US$8.5bn.
Excluding exceptional gains such as the sale of Skype, eBay’s profit from the quarter would have been $789m.
Strong performance from eBay’s online payments unit PayPal also buoyed its results. PayPal ended the quarter with 106.3m active registered accounts, a 13pc increase year over year.
PayPal’s net total payment volume grew 24pc to US$33.4bn in the fourth quarter of 2011. The company’s mobile payment volume reached US$4.0bn in 2011, more than five times the mobile payment volume in the prior year, as more consumers used their smartphones and tablets to pay online, eBay said.
"We are a different eBay today, no longer just an e-commerce leader but a stronger, more diverse global commerce company shaping the future of shopping and payments," Donahoe said.