EBay posts record Q2 results

By Clement James on Jul 20, 2007 12:30 PM
Filed under Networking

Auction firm reports year-on-year growth of 30 percent.

Online auction house eBay has reported record consolidated net revenue of $1.83bn for the second quarter of 2007, representing year-on-year growth of 30 per cent.

Following a strong performance from eBay-owned PayPal and Skype during the quarter, net income increased 50 percent year over year to US$376m.

"The quarter was a very good one for the company, as our portfolio of businesses continued to deliver value to our global community," said eBay president and chief executive Meg Whitman.

"Providing a great user experience has always been critical to our success and will remain part of our ongoing focus as we expand the business further."

Net sales revenues at eBay marketplaces totalled a record US$1.29bn during the period, a growth rate of 26 per cent over last year as eBay users posted 559 million listings.

PayPal net revenues reached a record US$454m, a growth rate of 34 percent over the same period last year, while Skype net revenues totalled a record US$90m, a growth rate of 103 percent.

EBay now expects consolidated net revenues for 2007 to be in the range of US$7.3bn to US$7.45bn.