By Pete Rizzo (@pete_rizzo_)
eBay released its third quarter earnings results on October 16, revealing that its PayPal service is growing more popular with consumers, Reuters reported.
Total payments volume at PayPal rose 24.7 percent to reach $43.8 billion during the third quarter of 2013, according to eBay. PayPal’s revenue increased 19 percent to $1.6 billion over the three-month period.
“Key developments in the third quarter included the launch of a fully localized offering in Russia and PayPal’s enhanced consumer app for iOS and Android,” the official press release stated.
PayPal added 5 million new active users during the quarter, bringing its total to 137 million active buyers.
eBay’s revenue was roughly on par with investor expectations. The online marketplace earned $3.89 billion for the quarter. Analysts had expected the company to take in $3.91 billion during this fiscal period.
However, reports suggest the fourth quarter will not be as positive for eBay. For more on how slowing eCommerce growth and the government shutdown is expected to impact the California company in the coming months, click here.
We’re always on the lookout for opportunities to partner with innovators and disruptors.
Learn More