Feeds

eBay beats Q1 forecasts with PayPal mobe cash mountain

Money-swap site boosts its revenue by a third

3 Big data security analytics techniques

eBay has seen its revenues and income rise in the first quarter this year, boosted by PayPal's moves in the mobile payments sector.

The web marketplace reported a 29 per cent lift in revenue from the same quarter last year, rising to $3.3bn (£2bn), while net income was up 17 per cent to $725m (£450m), beating analysts' expectations.

PayPal saw the biggest growth, pulling in 32 per cent more than the first quarter of 2011 at $1.3bn (£809m), while eBay Marketplaces drew in 11 per cent more at $1.7bn (£1bn).

GSI Commerce, a business that makes and runs online shopping sites for real-life shops and was acquired by eBay in the second quarter of last year, grabbed $237m (£148m) in revenue.

eBay has been expanding PayPal into the mobile payments market, joining the race to replace everyone's cash and cards with smartphone-loaded mobile wallets, and so far the move looks like it's paying off.

"PayPal launched an expansion of its payment services to offline merchants in the first quarter," the company said in a canned statement. "The Home Depot has launched PayPal payments in all of its nearly 2,000 US stores, giving shoppers the opportunity to pay using just their mobile phone number or PayPal payment card and PIN.

"We also launched PayPal Here in the US, Australia, Canada and Hong Kong. With PayPal Here, small businesses can now process almost any form of payment online or offline, including credit and debit cards, cheques and PayPal using only a smartphone."

The web firm is expecting around the same revenue for the next quarter, ending in June, with a forecast of $3.25bn to $3.35bn (£ 2.02bn to 2.08bn). It's full year forecast is for revenues of $13.8bn to $14.1bn (£8.6bn to £8.8bn). ®

High performance access to file storage

More from The Register

next story
Dropbox defends fantastically badly timed Condoleezza Rice appointment
'Nothing is going to change with Dr. Rice's appointment,' file sharer promises
Audio fans, prepare yourself for the Second Coming ... of Blu-ray
High Fidelity Pure Audio – is this what your ears have been waiting for?
Did a date calculation bug just cost hard-up Co-op Bank £110m?
And just when Brit banking org needs £400m to stay afloat
MtGox chief Karpelès refuses to come to US for g-men's grilling
Bitcoin baron says he needs another lawyer for FinCEN chat
Zucker punched: Google gobbles Facebook-wooed Titan Aerospace
Up, up and away in my beautiful balloon flying broadband-bot
Apple DOMINATES the Valley, rakes in more profit than Google, HP, Intel, Cisco COMBINED
Cook & Co. also pay more taxes than those four worthies PLUS eBay and Oracle
Number crunching suggests Yahoo! US is worth less than nothing
China and Japan holdings worth more than entire company
prev story

Whitepapers

Securing web applications made simple and scalable
In this whitepaper learn how automated security testing can provide a simple and scalable way to protect your web applications.
3 Big data security analytics techniques
Applying these Big Data security analytics techniques can help you make your business safer by detecting attacks early, before significant damage is done.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Top three mobile application threats
Learn about three of the top mobile application security threats facing businesses today and recommendations on how to mitigate the risk.
Combat fraud and increase customer satisfaction
Based on their experience using HP ArcSight Enterprise Security Manager for IT security operations, Finansbank moved to HP ArcSight ESM for fraud management.