PayPal pushes eBay earnings

Sticking to its knitting


eBay is celebrating a 20 per cent jump in profits in the last quarter, thanks mainly to its payment system PayPal.

The online tat bazaar grew net revenues in the first quarter of 2011 to $2.5bn, up 16 per cent and net income was up 20 per cent to £398m.

eBay's chief executive John Donahoe said 2011 was off to a strong start thanks to eBay's growth in the US and strong global growth by PayPal.

Now that it is rid of Skype, which provided $125m via the repayment of a note in the period, eBay's business is split between marketplaces and payment services such as PayPal and BillMeLater.

In the three months up to 31 March 2011, eBay's markets made revenues of $1.55bn and its payment services made $992m.

By geography the US accounts for 45 per cent of this and international the remaining 55 per cent.

In terms of active users eBay claims 95.9 million active auction users, up five per cent year on year. Its payments services claim 97.7 million active registered users, up 16 per cent year on year. Net payments in the quarter were $424.6m, up 26 per cent.

In the second quarter eBay expects net revenues in the range of $2.55bn to $2.65bn.

eBay's full financial statement is here. ®

Similar topics


Other stories you might like

  • US won’t prosecute ‘good faith’ security researchers under CFAA
    Well, that clears things up? Maybe not.

    The US Justice Department has directed prosecutors not to charge "good-faith security researchers" with violating the Computer Fraud and Abuse Act (CFAA) if their reasons for hacking are ethical — things like bug hunting, responsible vulnerability disclosure, or above-board penetration testing.

    Good-faith, according to the policy [PDF], means using a computer "solely for purposes of good-faith testing, investigation, and/or correction of a security flaw or vulnerability."

    Additionally, this activity must be "carried out in a manner designed to avoid any harm to individuals or the public, and where the information derived from the activity is used primarily to promote the security or safety of the class of devices, machines, or online services to which the accessed computer belongs, or those who use such devices, machines, or online services."

    Continue reading
  • Intel plans immersion lab to chill its power-hungry chips
    AI chips are sucking down 600W+ and the solution could be to drown them.

    Intel this week unveiled a $700 million sustainability initiative to try innovative liquid and immersion cooling technologies to the datacenter.

    The project will see Intel construct a 200,000-square-foot "mega lab" approximately 20 miles west of Portland at its Hillsboro campus, where the chipmaker will qualify, test, and demo its expansive — and power hungry — datacenter portfolio using a variety of cooling tech.

    Alongside the lab, the x86 giant unveiled an open reference design for immersion cooling systems for its chips that is being developed by Intel Taiwan. The chip giant is hoping to bring other Taiwanese manufacturers into the fold and it'll then be rolled out globally.

    Continue reading
  • US recovers a record $15m from the 3ve ad-fraud crew
    Swiss banks cough up around half of the proceeds of crime

    The US government has recovered over $15 million in proceeds from the 3ve digital advertising fraud operation that cost businesses more than $29 million for ads that were never viewed.

    "This forfeiture is the largest international cybercrime recovery in the history of the Eastern District of New York," US Attorney Breon Peace said in a statement

    The action, Peace added, "sends a powerful message to those involved in cyber fraud that there are no boundaries to prosecuting these bad actors and locating their ill-gotten assets wherever they are in the world."

    Continue reading

Biting the hand that feeds IT © 1998–2022