PayPal pushes up eBay revenues in Q2

SAN JOSE, Calif. — eBay reported that revenue for the second quarter ended June 30, increased 25% to $2.8 billion, compared with the same period of 2010. The company recorded second quarter net income on a GAAP basis of $283.4 million, or 22 cents per diluted share, and non-GAAP net income of $630.9 million, or 48 cents per diluted share.

The company reported that its PayPal business' net total payment volumegrew 34% to $28.7 billion in the second quarter of 2011 compared to the same period of last year.

eBay reported that its Marketplaces business' grossmerchandise volume excluding vehicles (GMV), increased by 17% year over year to $14.7 billion.

"Second quarter revenue and earnings were strong, with PayPal surpassing 100 million active registered accounts and reporting its first billion-dollar revenue quarter, and eBay growth in the U.S. accelerating," said eBay president and CEO John Donahoe. "We also strengthened our portfolio in (the second quarter) with acquisitions that we believe will more broadly position us to enable the future of commerce. We will partner with retailers of all sizes to help them grow in a rapidly shifting, technology-driven multichannel commerce environment, and we will help consumers shop and pay anytime, anywhere, any way."

For the third quarter, eBay said it expectsnet revenues in the range of $2.85 to $2.95 billion with GAAP earnings per diluted share in the range of 37 cents to 38 cents and non-GAAP earnings per diluted share in the range of 46 cents to 47 cents.