eBay Reports Fantastic Fourth-Quarter Results
By Valuentum:
Best-idea eBay (EBAY) reported strong fourth-quarter results and provided conservative forward guidance. We are maintaining our above-market fair value estimate of the online auction and payment processor (our full report can be found here). eBay's revenue for its fourth quarter jumped 35% from the same period a year ago. The firm's PayPal business continued to perform well, ending the quarter with 106.3 million active registered accounts (up 13% from the same period a year ago). Revenue from PayPal jumped an impressive 28% thanks to continued merchant and consumer adoption and increased penetration on eBay. PayPal's net total payment volume grew 24%, and the firm noted that its international markets exceeded revenue from the US for the first time, reflecting its global footprint. Its Marketplaces business also performed well, with revenue jumping 16% from the same period last year. Gross merchandising volume, excluding vehicles, improved 10% with sold items increasing 11%Complete Story »
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