EBay revenue lifted by PayPal

EBay revenues rose by 25% in second quarter of this year, boosted by a strong performance by its payments platform PayPal.

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Total revenue for the three months to June 30 was $2.76bn (£1.7bn), up from $2.22bn (£1.4bn) for the same period last year.

PayPal revenues exceeded a billion dollars for the first quarter ever, rising by 31% to $1.1bn (£680m) – roughly 40% of the total. EBay said there are now 100.3m active PayPal accounts.

Despite the revenue growth the company posted a 31% decline in profit to $283.4m (£175m), due in part to the company’s recent acquisition spree. During the period it bought mobile payment companies Fig Card and Zong, as well as completed its deal for ecommerce specialist GSI Commerce.

The company also said downloads of its suite of mobile apps has now exceeded 45m.
EBay Inc. President and CEO John Donahoe said the acquisitions showed the company’s focus on providing a seamless multiplatform retail experience.

“We will partner with retailers of all sizes to help them grow in a rapidly shifting, technology-driven multichannel commerce environment, and we will help consumers shop and pay anytime, anywhere, any way,” he said.

This story first appeared on New Media Age. For more digital stories and analysis from NMA click here now

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