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eBay’s Strong Third-quarter Sales Bolstered by Paypal, Marketplaces

Online auction site eBay announced this week it has recorded $3.4 billion revenue in the third quarter of 2012, posting a 15 percent increase from the same quarter last year.

eBay continued to post strong numbers despite rumors that Paypal is in a verge of laying off some of their employees.

According to Cnet reporter Rachel King, eBay racked up a third-quarter net income of $597 million or 45 percent a share. The e-commerce company’s Non-GAAP earning registered 55 cents a share on a revenue of $3.4 billion – a 15 percent jump from the same quarter last year.

These figures came unexpected after Wall Street predicted eBay to record third-quarter revenue of 42 cents a share on revenue of $2.63 billion.

eBay CEO John Donahoe credited solid revenue generated by subsidiaries  Paypal and Marketplace for eBay’s strong third quarter performance.

“We had a great third quarter across our company, with Marketplaces and PayPal accelerating customer growth. Mobile continues to be a game changer for us, and we continue to be a clear leader in mobile commerce and payments. With our strong portfolio and global reach, we are consistently demonstrating our capabilities to help consumers shop anytime, anywhere. And we are enabling retailers of all sizes to compete in a rapidly evolving, multichannel commerce environment,” Donahoe said in a statement this week.

Paypal posted a 23 percent jump in revenue and 20 percent increase in net total payment volume year-over-year. It also recorded 14 percent increase (117.4 million) in active registered account.

Marketplaces’ Gross merchandise volume (excluding vehicles) jumped 11 percent year-over-year to $16 billion while its active user growth reached 10 percent year-over-year, making it the fastest growth rate for Marketplaces since 2007 — 800,000 of its new users came from mobile.

Marketplace revenue jumped by 12 percent year-over-year to $226 million while its store sales increased by 19 percent year-over-year.

Via: Cnet.com