October 19, 2012

Online retailer eBay posts double digit growth for Q3 in 2012

American online retailer eBay has posted double digit revenue growth in the third quarter of 2012 as more consumers shopped on its online marketplaces and used its PayPal payment service.

By admin-demo

American online retailer eBay has posted double digit revenue growth in the third quarter of 2012 as more consumers shopped on its online marketplaces and used its PayPal payment service.

Revenue for the quarter ended 30 September 2012 surged 22% to $3.4bn, compared to $2.97bn in the corresponding period of 2011.

The company reported third quarter net income on a non-GAAP basis of $597m, up 22% year-over-year, primarily due to strong top-line growth.

eBay president and chief executive John Donahoe said the third quarter growth was driven by 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," Donahoe added.

eBay’s Marketplaces business delivered its strongest organic growth rate in gross merchandise volume (GMV), excluding vehicles, since 2007, at 11% on a year-over-year basis.

Gross merchandise volume (GMV), excluding vehicles, increased 11% year over year to $16bn in the third quarter of 2012.

PayPal, with strong third quarter performance, ended the quarter with 117.4m active registered accounts, a 14% rise compared to third quarter of 2011.

PayPal revenue increased 23% year over year and net total payment volume (TPV) grew 20% year over year to $35.2bn.

"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 added.