Friday October 19th, 2012 - 4:34PM
For the third quarter ended September 30, eBay Inc., reported a revenue increase of 15% to $3.4 billion versus the same period of 2011. Third quarter net income on a GAAP basis came in at $597 million, or 45 cents per diluted share, while non-GAAP net income was $718 million, or 55 cents per diluted share, the company announced.
Results were in line with analyst estimates.
GAAP and non-GAAP net income were up 22% and 14% respectively year over year, the company stated, due primarily to strong top-line growth. Segment margin in each of the company’s three business segments expanded versus the prior-year period, eBay said.
In the company’s retail Marketplace division, third quarter gross merchandise volume, excluding vehicles, increased 11% from the 2011 period to $16 billion. Marketplaces revenue increased 9% versus last year’s period, driven by strong growth in the United States and Asia Pacific, eBay stated.
In the GSI division, revenue increased 12% year over year to $226 million, driven primarily by a 16% increase in global e-commerce merchandise sales. Comparable store sales grew 19% versus last year’s period, reflecting strong e-commerce sales from retail clients, eBay noted.
Finally, PayPal revenues increased 23% versus last year’s third quarter and net total payment volume grew 20% to $35.2 billion.
"We had a great third quarter across our company, with Marketplaces and PayPal accelerating customer growth," said John Donahoe, eBay president and CEO. "Mobile continues to be a game changer for us, and we continue to be a clear leader in mobile commerce and payments. With our strong portfolio and global reach, we are consistently demonstrating our capabilities to help consumers shop anytime, anywhere. And we are enabling retailers of all sizes to compete in a rapidly evolving, multichannel commerce environment."