eBay Has A Strong Second Quarter, Pulls In $3.9 Billion In RevenueBy: Zach Walton - July 18, 2013
eBay has been doing pretty well for itself over the last few years. It’s latest financial results report doesn’t disappoint as the online auction house has reported another quarter of increased revenue.
On Wednesday, eBay reported revenue for the second quarter increased by 14 percent to $3.9 billion. It’s net income during the last quarter was $640 million, or $0.49 per share. It also reported that total company Enabled Commerce Volume grew 21 percent last quarter to $51 billion. Its mobile commerce presence is also continuing to grow with eBay saying that downloads of its mobile apps have exceeded 179 million since their introduction in 2008.
“We had a strong second quarter, with $51 billion of enabled commerce volume across Marketplaces, PayPal and eBay Enterprise driving double-digit revenue and earnings growth,” said eBay Inc. President and CEO John Donahoe. “Macroeconomic headwinds in Europe and Korea will continue to be a challenge in the second half of the year. But our core businesses are strong and we continue to attract millions of new customers each quarter through mobile innovation. We remain confident in our ability to meet our goals and drive global commerce innovation and leadership.”
PayPal is continuing to do well with eBay reporting that its revenue has increased by 20 percent to $1.6 billion. The financial service also gained 4.7 million more subscribers during the quarter for a total of 132 million subscribers.
eBay Marketplace reportedly had a strong quarter as well with revenue of $2 billion, or an increase of 10 percent. It also gained 3.5 million subscribers during the quarter for a total of 120 million subscribers.
eBay Enterprise, formerly GSI Commerce, also saw continued growth with $246 million in revenue, or an 11 percent increase. It also boasts that its enterprise clients have seen a 19 percent same stores sales growth.
Even with the strong showing, eBay share price has declined by almost 4 points. It’s currently trading at $53.41.
If you prefer your financial information in a more visual format, eBay has condensed its earnings report into a convenient infographic: