Ebay Inc, owner of eBay, Paypal and Skype has reported 50pc surge in second quarter income year over year to US$376m.
While income was up, net revenue for the quarter also grew by 30pc, coming in at US$1.83m.
During this period eBay bought 10 million shares of its own common stock at a cost of US$344m out of an allocated US$9bn for stock repurchasing in the 2007-2009 period.
Breaking down eBay Inc’s results into its different companies, PayPal alone had net revenues of US$454m, which the company puts down to its expanding ‘global footprint’, making the move into different territories and currencies in Q2.
Skype, eBay’s VoIP (voice over internet protocol) service is seeing the most growth, with net revenues of over US$90m, a growth rate of 103pc since Q2 of 2006.
While revenue is up for this quarter, the company has also been investing considerably more in both product development and sales and marketing.
The amount of registered eBay users grew 19pc since Q2 of last year to 241m with the amount of active users growing by 7pc to 83.3m.
With this the number of eBay shops have increased by 20pc, with 649,000 eBay-based shops selling their wares.
“The quarter was a very good one for the company, as our portfolio of businesses continued to deliver value to our global community,” said eBay President and CEO, Meg Whitman.
By Marie Boran
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