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October 21, 2010

eBay Q3 revenue increases marginally to $2.25bn

Operating margin increases to 21.8%

By CBR Staff Writer

eBay has reported revenue of $2.25bn for the third quarter of 2010, as compared to $2.24bn in the same period last year.

The payments business unit reported revenue of $838m, an increase of 22% year-over-year while the marketplaces business unit, which consists of eBay, Shopping.com, StubHub, Kijiji and other e-commerce sites, recorded $1.4bn in revenue, a 3% year over year increase.

Operating margin increased to 21.8% for the quarter, compared to 19.8% for the same period last year.

The company said that the increase in operating margin was due to productivity gains being offset in part by the impact of a stronger dollar and faster growth in the company’s lower margin payments business.

For the quarter, net income was $432m, or $0.33 per diluted share, as compared to $350m, or $0.27 per diluted share in the Q3 FY09.

eBay president and CEO John Donahoe said the company delivered strong third quarter results, with great performance at PayPal and stable results at eBay.

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"PayPal gained share globally and eBay continued to improve key metrics. Our company is strong and we are managing our global portfolio to balance strengths, challenges and opportunities, invest in growth and deliver consistent performance," Donahoe said.

For the fourth quarter of 2010, eBay expects net revenues in the range of $2.39bn to $2.49bn with earnings per diluted share in the range of $0.37 to $0.40.

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