The story of eBay continues to be about payments. Led by strong growth in its payment-services division, dominated by PayPal but also including Bill Me Later and other services, eBay posted a 22 percent increase in profits for the third quarter.
Taken together, eBay’s balance sheet was enough to beat analysts’ projections in both profits and revenues in the third quarter. ECommerce Guide has the numbers.
Driven by sustained growth in its payment-processing division, ecommerce giant eBay on Wednesday reported third-quarter profits up 23 percent from the year earlier period, though revenue was nearly stagnant, up just 1 percent from last year.
For the quarter ending Sept. 30, eBay (NASDAQ: EBAY) posted net income of $432 million, or 33 cents per share, up from $350 million, or 27 cents per share, in the same period last year.