PayPal helps eBay to strong revenues
- Added:
- Jul 22, 2010
Revenues at eBay reached $2.215bn during the second quarter (up 6% year-on-year) as PayPal saw its revenues rise 22% from last year.
Profits at eBay were up 26% to reach $412.2m, from $327m in 2010. Almost 60% of eBay's Marketplace revenues came from outside the US.
PayPal revenues reached $817m (from $669m) as the site added 1m new customers each month.
eBay now expects full-year revenues to reach $8.8-$9bn, on adjusted earnings of $1.60 to $1.65 a share.
John Donahoe, President and Chief Executive of eBay, said: "We delivered strong second quarter results, demonstrating the global strength and increasing diversity of our business. PayPal is strong and getting stronger, building a robust and innovative global footprint serving all of ecommerce. And our eBay turnaround remains on track, with strong performance in Europe, significant changes in the U.S. and continued improvements to the buying and selling experience. We continue to focus on delivering strong financial results, managing a healthy balance sheet and making the necessary investments to compete, win and satisfy our customers."
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