A Great Day for eBay — Thanks Largely To PayPal
EBay is a growing company, there’s no doubt about it. Its most recent earnings statement revealed a 23 percent increase in quarterly revenues, which are now up to nearly $3.4 billion.
There’s also no doubt that eBay has PayPal to thank for a big chunk of that growth. The numbers are clear: the $1.36 billion in revenues attributed to PayPal for the quarter represent nearly 40 percent of all of eBay’s business. And of the $638 million in revenue growth seen by the combined entity, $284 million came from PayPal — a nearly 45 percent share.
Together, eBay and PayPal processed $34.45 billion in net total payment volume, up 20 percent from the same time last year. And within that gain, one channel in particular is seeing significant growth.
As eBay CEO John Donahoe put it: “Mobile continues to be a game changer.”
“We now expect eBay and PayPal mobile to each transact $10 billion in volume in 2012,” he added. “That's more than double 2011, a staggering surge in mobile shopping and payments on devices that did not exist just a few years ago.” Donahoe says the world of commerce is “at an inflection point,” with his company’s investments in mobile innovations “helping to reshape how people around the world shop and pay.”
To that end, PayPal now manages 113.2 million active registered accounts, up from roughly 100 million this time a year ago.
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