Yesterday I had commented on eBay’s latest earnings. Here is the upshot.
eBay reported GAAP net income of 45 cents per share or $597 million. This is up 22% compared to same period a year ago. Revenue was $3.4 billion in the quarter, up 15% from $2.97 billion in the year-ago period. The adjusted net income was 55 cents per share or $718 million. This is an increase of 14% from the last year Q3 numbers. Profits were a tad higher than expected. Revenue a tad lower. Overall a good performance.
It’s worth to point out that its PayPal unit did well. It reported 117.4 million active accounts. This is an increase of 14% from a year. Revenue was $1.367 billion, up 23% from a year ago. PayPal is a success story within eBay.
Still, eBay has the image of selling used goods. Of course this is not what company is all about these days. Many retailers use the site as an outlet to sell their goods online. eBay responded earlier this month. It has given its website a make-over with a fresher Pinterest-like touch and feel. Around the same time, it launched eBay Now, a new same day shipping service that enables people to get products delivered from local retailers. This positions eBay well against Walmart that is piloting a similar service in selected markets. It also counters Amazon strategy of deploying more local warehouses.
The holiday season is ahead of us. Prime time for eCommerce retailers. eBay appears to be ready.