25 February 2017
Visit EBAday.com

PayPal boosts eBay Q2 results

22 July 2010  |  8475 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)

Finextra news in your inbox

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

Related stories

PayPal partners Singapore govt for m-commerce drive

PayPal partners Singapore govt for m-commerce drive

16 June 2010  |  7971 views  |  0 comments
PayPal iPhone app downloaded one million times in three weeks

PayPal iPhone app downloaded one million times in three weeks

07 April 2010  |  10369 views  |  0 comments
PayPal opens up to third party developers

PayPal opens up to third party developers

04 November 2009  |  9001 views  |  0 comments
Ebay looks to double PayPal revenue

Ebay looks to double PayPal revenue

12 March 2009  |  6153 views  |  0 comments
E-payment threat to bank revenue

E-payment threat to bank revenue

29 September 2008  |  13532 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit BNP paribasvisit dh.com

Who is commenting?

Top topics

Most viewed Most shared
EBA to relax controversial PSD2 authentication rulesEBA to relax controversial PSD2 authentica...
12254 views comments | 51 tweets | 72 linkedin
RBS to become fintech fund and high street outlet for challenger banks under HMT remedyRBS to become fintech fund and high street...
8352 views comments | 40 tweets | 34 linkedin
High rate of defaults hit P2P lending sectorHigh rate of defaults hit P2P lending sect...
6656 views comments | 18 tweets | 13 linkedin
hands typing furiouslyDecoding the Policy Impact of India's Unio...
6558 views 0 | 13 tweets | 2 linkedin
BNY Mellon seeks blockchain experts for new emerging biz and tech teamBNY Mellon seeks blockchain experts for ne...
6454 views comments | 7 tweets | 4 linkedin

Featured job

Six Figure Base + Commission + Stock Options
London

Find your next job