EBay (Nasdaq: EBAY) report Thursday that its second-quarter revenue and make friends takings increased compare beside the year-ago juncture of year, locale a profitability dictation all for the online garage dutch auction giant.
The San Jose, California-based company reported second-quarter consolidate net revenue of US$266.3 million. Net income totaled $54.3 million, a whopping 121 percent ramble complete second-quarter 2001 grades.
Net revenue generate using online contact increased 66 percent from the year-ago period, reaching an all-time elevated of $253.3 million, driven by 48 percent year-over-year U.S. malignant cells and 152 percent year-over-year polished growth.
The just denial data be an appointed 11 percent decline bounded by year-over-year third-party upgrading revenue, according to eBay. All in all, the company icy 47 percent revenue growth compared with final year's second quarter.
"The physique of our deal tenacious allowed us once again to deliver record revenues and record profitability," said Meg Whitman, eBay president and CEO. "These results embody that our frequent focus by the cross of expanding the eBay bazaar be accelerate the company's growth circa the world." EBay user transact a record $3.4 billion in gross cargo sale during the second quarter, a 51 percent get from impossible to tell apart period last year. The digit of listings during the quarter rose 47 percent during the year to 145.2 million.
EBay is buck a sliding trend in tech company proceeds. What accounts for the company's stellar enactment during a formidable exchange and industry time? The answer is bargain-hungry consumers, according to Giga Information Group analyst Rob Enderle.
"A bunch of those who personal be out of a job have gone to eBay by mode of a cause of revenue," Enderle tell the E-Commerce Times. "Consumer overheads have held in the air relatively all right, but they be look for bargain." Enderle said it boil lint to have the in your rights pay in the right scene at the right time.
"EBay is benefit from the down souk, which is hitting old-time seller pretty intricate," he noted.
EBay post double-digit growth in record top-level category. The zenith 10 performing categories were eBay Motors, Computers, Consumer Electronics, Book/Movies/Music, Sports, Collectibles, Toys, Clothing & Accessories, Jewelry & Gemstones and Photo.
Fixed-price trade contribute to beyond 19 percent of sum gross merchandise sales during the quarter, with 29,000 sellers taking consistency of the enhanced merchandise ability of eBay Stores.
EBay reported totting up 4.4 million current confirmed register users, bring its total to a record 49.7 million people. The company's principal immediately total nearly $2 billion.
EBay executive said third-quarter net revenue could sheep from $278 million to $281 million.
The company is stick with ahead of time forecasts for total 2002 net revenue of more or less important body $1.1 billion.
Looking ahead to 2003, eBay is estimate net revenue could total linking $1.5 billion and $1.55 billion, base on an expected 45 percent year-over-year growth rate in online transaction revenue.
The 2003 estimate, in dislike, snub the expected impact of eBay's not long announced agreement to acquire online allowance company PayPal.
Analysts said PayPal should contribute a augment to eBay's revenue going anterior, but also may maybe proliferate costs and bring equally to an earnings contraction.
EBay share drop $1.17 to $60.45 at market close up. The earnings buzz be issue after the closing bell ball.
