eBay posts Q4 net income at USD 1.35 bn
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Last Updated: Thursday, January 21, 2010, 18:50
  
New York: Online market place eBay has reported robust growth in its fourth quarter net income at USD 1.35 billion, driven by strong performance at PayPal payment operations and its core auction business.

In the year-ago period, net income stood at USD 367 million, eBay said in a statement.

"We delivered a strong fourth quarter with double-digit revenue growth driven by exceptional performance at PayPal and turnaround progress and momentum in our core eBay business," eBay Inc President and CEO John Donahoe said.

Net revenues increased 16 per cent to USD 2.37 billion in the fourth quarter of 2009, which includes revenue of USD 112 million from its telephone unit Skype.

Excluding Skype, revenue growth would have been 19 per cent. In November, following a dispute with Skype's founders, eBay sold 70 per cent of it to an investor group, retaining the remaining 30 per cent equity with itself.

The payments business, which includes PayPal operations reported USD 795.6 million in revenue for the quarter, an increase of 28 per cent year-over-year.

The company's marketplace business unit, which consists of eBay, Shopping.com, StubHub, Kijiji and other e-commerce sites, recorded USD 1.5 billion in revenue for the quarter, a 15 per cent year-over-year increase.

In its outlook, eBay said it expects net revenues in the range of USD 2.1 billion to USD 2.2 billion in the first quarter of 2010.

PTI


First Published: Thursday, January 21, 2010, 18:50


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