For many small online merchants, eBay has long been an important way to move inventory — if not their only way. That’s why it’s good news for them that eBay continues making progress on its turnaround, posting better-than-expected earnings for its second quarter.
A large portion of that success is due to strength at PayPal, eBay’s payments service that continues posting record growth numbers despite its already vast user base. But eBay also saw strength in its core Marketplaces business as well. Ecommerce Guide has the numbers.
Ecommerce giant eBay (NASDAQ: EBAY) had reason to cheer today, posting second-quarter figures that topped Wall Street estimates due in part to a record performance from its PayPal unit.
The company posted a quarterly profit of $4.12 million or $0.31 per share, with non-GAAP income coming in at $530.2 million, or $0.40 per share — an 18 percent increase over the same quarter last year. Analysts polled by Thomson Reuters expected a non-GAAP increase of only $0.38 per share.