Despite a net profit down 31%, eBay has exceeded analyst expectations, thanks to the sustained growth of its subsidiary PayPal has exceeded one billion dollars in sales. The number of PayPal accounts, a subsidiary of online payment that takes the group’s growth, rose 15% year on year to $ 100.3 million.
The distribution group online eBay released Wednesday a net profit of 283.4 million dollars for the second quarter, down 31% due to the acquisition of marketing services GSI Commerce, however, exceeding expectations. Based on the number of shares and excluding special items, earnings retracts to 48 cents instead of 46 cents expected by shareholders. Revenues jumped 25% to $ 2.76 billion, also exceeding expectations (2.61 billion).
“PayPal has over 100 million active registered accounts and announced its first quarter to one billion dollars in revenue, and growth of eBay in the United States is accelerating,” said general manager John Donahoe. The number of PayPal accounts, a subsidiary of online payment that takes the group’s growth, rose 15% year on year to $ 100.3 million. Its sales jumped 31% to $ 1.073 billion.Forecasts mixed
Side-commerce sites, the core business of the group, sales rose 19% to $ 1.66 billion. The group advanced forecast subdued: the turnover is expected between 2.85 and 2.95 billion in the third quarter, against only $ 2.68 billion expected by analysts. However earnings per share are expected between 46 and 47 cents, while the market had relied on 48 cents.
For the full year, revenue is expected between 11.3 and 11.6 billion dollars against 10.87 billion dollars which had been provided to analysts. Annual earnings per share is expected between 1.97 and 2 dollars, just beyond the $ 1.96 analysts expect for. The action gained 1.90% to 33.80 dollars in electronic trading after the close of trading.