01 July 2015

PayPal boosts eBay Q2 results

22 July 2010  |  7933 views  |  0 add to basket

Online auction giant eBay has posted a 26% rise in net income for the second quarter on the back of impressive growth at its PayPal unit.

The group saw net income of $412 million, or 31 cents per diluted share, up from $327 million in Q2 2009. Net revenue was $2.22 billion, up six per cent from $2.10 billion the previous year.

The firm beat street expectations, largely thanks to the continued rise of PayPal, which saw revenue up 22% to $817 million for the quarter.

PayPal added a million new accounts each month during the quarter and its merchant services business has grown by over 40% year over year for three consecutive quarters.

John Donahoe, president and CEO, eBay, says: "PayPal is strong and getting stronger, building a robust and innovative global footprint serving all of ecommerce."

The PayPal success has helped to compensate for "slower than expected" growth for eBay's US business, which is undergoing a "turnaround" plan.

For the full year, eBay expects PayPal to continue its strong performance, resulting in a positive impact to net revenues of around $100 million and $0.06 to $0.08 per diluted share.

Comments: (0)

Comment on this story (membership required)
Log in to receive notifications when someone posts a comment

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board, sign up now.

Related blogs

Create a blog about this story (membership required)

Related stories

16 June, 2010
07 April, 2010
04 November, 2009
12 March, 2009
29 September, 2008

Related company news

 
Your browser is unable to support Flash files.

Top topics

Most viewed Most shared
Global fintech investment triples - Accent...
8862 views comments | 46 tweets | 25 linkedin
Barclays takes on Apple with wearable paym...
7538 views comments | 38 tweets | 27 linkedin
Wells Fargo to usher in voice and facial b...
6008 views comments | 20 tweets | 25 linkedin
E-commerce goes mobile
5087 views comments | 23 tweets | 20 linkedin
European ACHs form Sepa joint venture
5031 views comments | 22 tweets | 13 linkedin

Featured job

to £65K base, double OTE
London, UK

Find your next job