EBay revenue, expenses grow in Q3
EBay's third-quarter revenue increased 32% to $3 billion versus 2010, the company reported. It also reported Q3 net income of $490.5 million, a 14% year-over-year bump.
Meanwhile, the San Jose, Calif.-based company's sales and marketing expenses grew to more than $623 million in the three months ended Sept. 30, up from $483.6 million during the same period last year.
EBay president and CEO John Donahoe said mobile commerce was a main driver of the revenue gains.
“Mobile commerce continues to accelerate as consumers change the way they shop,” he said in statement on Oct. 19. “We expect eBay mobile commerce to generate almost $5 billion in merchandise volume this year and PayPal mobile to exceed $3.5 billion in payment volume.” PayPal ended Q3 with 103 million active accounts, up 14% versus the same period last year.
GSI Commerce, which eBay bought in March for approximately $2.4 billion, contributed $202.6 million in Q3 revenue.