According to the release, PayPal delivered strong third quarter performance seeing a growth in revenue, total payment volume and active registered accounts. PayPal ended the quarter with 90 million active accounts worldwide adding more than a million new accounts each month during the quarter. And for the fourth consecutive quarter, Merchant Services net total payment volume grew 40% or more year over year. The Marketplaces continues to grow; sold items were up almost 13% year over year and accelerated in the US and UK.
In July, eBay has forecasted third-quarter profit of $0.35 to $0.37 per share on $2.13 billion to $2.18 billion in revenue. Analysts expected earnings to come in at $2.18 billion in revenue or $0.37 per share.
eBay’s president and CEO, John Donahoe stated in the release: “We delivered strong third quarter results, with great performance at PayPal and stable results at eBay…PayPal gained share globally and eBay continued to improve key metrics.”
PayPal has long been the crown jewel in eBay’s pocket, so it’s not surprising that once again the payments company helped buoy eBay’s earnings.
We’ve embedded the slides below:
7 7
Authors: Leena Rao