eBay does better than expected

eBay does better than expected

American internet retail giant eBay has performed better in the past quarter than what analysts had expected beforehand. This past quarter is also the last one which includes PayPal's results, as that payment service will soon split off from eBay.

Decent growth for PayPal

The company's total net turnover grew 7 % to 4.4 billion dollars (4 billion euro), mostly thanks to what PayPal managed over the past quarter. That division's turnover grew 16 % to 2.3 billion dollars (2 billion euro).

 

In total, PayPal handled 1.1 billion transactions in the past quarter, which represents a 66 billion dollar (60 billion euro) industry, up 20 % compared to last year. Its customer base also grew a lot, up 11 % to 169 million customers.

 

Auction house eBay had a radically different quarter: net turnover dropped 3 % to 2.1 billion dollars (1.93 billion euro), while the number of transactions also dropped 2 %. In total, the transactions still represented 20 billion dollars (18 billion euro) in value, but net profits fell 88 % to 83 million dollars (75 million euro). 

 

The huge differences between PayPal and eBay are the main reason why both companies will be split and go their own way. In any case, PayPal will be worth more than eBay once the split is finalized.

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