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eBay Inc. Reports Strong Third Quarter Results

eBay Inc. reported strong third quarter earnings, delivering its third consecutive quarter of double-digit growth. The company’s net revenue grew 15 percent, compared to the same period in 2011, and non-GAAP earnings per share were up 14 percent.

“We had a great third quarter across our company, with Marketplaces and PayPal accelerating customer growth,” said John Donahoe, eBay Inc. President and CEO.

Marketplaces
Marketplaces delivered another strong quarter, with accelerating user growth. Excluding vehicles, U.S. GMV growth accelerated two points to 16 percent, and international GMV was up 15 percent on an FX-neutral basis. Marketplaces revenue increased 9 percent year over year, driven by strong growth in the U.S. and APAC.

Active user growth continued to accelerate, reaching 10 percent year over year, the fastest growth since 2007.

eBay continues to be a mobile industry leader, with downloads of eBay’s mobile apps surpassing 100 million globally. During Q3, 800,000 new users came from mobile, and the number of items listed on eBay via mobile also surpassed the 100-million milestone during the quarter.

On Sept. 13, eBay introduced a fresh new logo, which went live on the site on Oct. 10. In addition, Marketplaces has begun rolling out a suite of site enhancements, designed to deliver a more personalized, data-driven experience. These changes respond to changing customer needs, providing a cleaner, more contemporary and consistent experience.

PayPal Continues to Grow
PayPal showed solid third quarter performance, ending the quarter with more than 117 million active registered accounts, with active account growth accelerating 1 percent. PayPal’s growth reflects an ongoing commitment to delivering innovative online and offline payment solutions for merchants of all sizes.

A partnership with Discover will provide PayPal with access to more than 7 million U.S. merchant locations starting next spring. PayPal’s small business product, PayPal Here, is available in five markets. General availability in the U.S. now includes retail distribution at AT&T stores nationwide. On the consumer front, PayPal has redesigned its website to offer a more intuitive, customer-centered experience.

GSI Shows Continued Strength
GSI Commerce also demonstrated solid results, with a 19 percent increase in same-store-sales for its clients, once again outpacing ecommerce.

Positive Business Outlook
For full year 2012, eBay Inc. is raising its revenue forecast to $13.95 billion to $14.1 billion, representing growth of 20 percent to 21 percent and increasing non-GAAP EPS forecast to $2.32 to $2.35, representing 14 percent to 16 percent.

“With our strong portfolio and global reach, we are consistently demonstrating our capabilities to help consumers shop anytime, anywhere,” Donahoe said. “And we are enabling retailers of all sizes to compete in a rapidly evolving, multichannel commerce environment.”

View the press release here. For additional information, check out our Twitter session, #eBayQ32012.

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By Sue Rosenstock

2 Comments

Joe

2012-10-17 17:37:34 Reply

Another strong quarter by Ebay, it’s amazing how well they are doing now as compared to last year.

PhilipCohen

2013-10-16 01:38:41 Reply

Whatever; the ugly reality of eBay Inc.:
eBay’s crooked auctions marketplace … bit(dot)ly/11F2eas
The clunky, unscrupulous “PreyPal” … bit(dot)ly/UVXx53
The ongoing joke of it all … bit(dot)ly/YvxFEg
Quotes from the eBay executive suite … bit(dot)ly/12xvzyA

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