eBay delivered strong second quarter, PayPal carries team

eBay delivered strong second quarter, PayPal carries team

Summary: E-commerce giant eBay turned in a strong second quarter as its PayPal unit delivered its first quarter with more than $1 billion in revenue.

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E-commerce giant eBay turned in a strong second quarter as its PayPal unit delivered its first quarter with more than $1 billion in revenue.

eBay reported second quarter earnings of $283 million, or 22 cents a share, on revenue of $2.76 billion. Non-GAAP earnings were 48 cents a share. Wall Street was looking for earnings of 46 cents a share on revenue of $2.61 billion.

As for the outlook, eBay projected third quarter non-GAAP earnings of 46 cents a share to 47 cents a share on revenue of $2.85 billion to $2.95 billion. Wall Street was looking for 47 cents a share on revenue of $2.7 billion. For 2011, eBay projected non-GAAP earnings of $1.97 a share to $2 a share on revenue of $11.3 billion to $11.6 billion. The outlook includes the recent acquisition of GSI Commerce.

Overall, PayPal is carrying eBay. PayPal delivered its first $1 billion quarter and had 100.3 million registered accounts, up 15 percent from a year ago.

eBay's marketplace business had gross merchandise volume excluding vehicles of $14.7 billion, up 17 percent from a year ago.

On a conference call, eBay CEO John Donohoe reiterated the company's growth strategy. He said:

We intend to compete and lead in the new retail global environment that we see emerging. Technology-driven innovation is changing how consumers shop and pay, and these changes are blending online and offline into a new global commerce landscape. In this new retail world, consumers expect a seamless experience across multiple channels, whether it's a physical store, a mobile phone, a laptop or any Internet-connected device. In this new world, physical stores will become just another point of access, and location alone is no longer a sufficient competitive advantage. The advantage is the ability to connect with consumers -- any time, anywhere.

Related: Is it time for an eBay renaissance?

Topics: CXO, Banking, E-Commerce, Enterprise Software

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  • RE: eBay delivered strong second quarter, PayPal carries team

    eBay Second Quarter GAAP net revenue UP 25%; net income DOWN 31%!

    Gee, aren?t those ?generally accepted accounting principles? a real bummer. Still, the non-GAAP figures look good, whatever they mean, and as eBay never shares any of their stash of cash with shareholders, what matter? Only the most senior executive staff of the ?eBafia? get to take any cash home from their regular exercising and selling of their steady supply of share options. No going down with this rusting hulk for the executive officers of this crew.

    PayPal: Outside of whatever will ultimately be left of the Donahoe-devastated eBay Marketplace, PreyPal will eventually be consigned to the history books by the retail banks/Visa/Mastercard once those players get their ?online? act together.

    All anyone needs to know about the clunky PayPal, at:
    http://forums.auctionbytes.com/vbulletin/showthread.php?p=165263

    What all buyers should know about the criminal activities of eBay, at:
    http://forums.auctionbytes.com/vbulletin/showthread.php?t=23540

    Enron / eBay / PayPal / Donahoe: Dead Men Walking.
    Philip Cohen
    • RE: eBay delivered strong second quarter, PayPal carries team

      @Philip Cohen I really hope banks do get their act together, it grates me having to use PayPal for my online transactions. I have a good relationship with my bank so would be great if I could use them. <a href="http://www.us-djs.net">DJ agency</a> <a href="http://www.uk-djs.net">DJ Hire</a> <a href="http://www.global-djs.net">DJ agency</a>
      mrswilliamson