Thanks To PayPal, eBay Beats The Street And Posts 14 Percent Increase In Net Income

eBay just posted Q3 earnings today; reporting that revenue for the quarter increased a slight 1% to $2.2 billion, or up 10% excluding Skype, compared to the same period of 2009 (eBay sold Skype in Q3 last year). The company's non-GAAP net income for the quarter was $530.6 million, or $0.40 per diluted share, representing a 14% increase excluding Skype, compared to the same period of 2009. eBay beat analyst expectations of $0.37 per share.

According to the release, PayPal delivered strong third quarter performance seeing a growth in revenue, total payment volume and active registered accounts. PayPal ended the quarter with 90 million active accounts worldwide adding more than a million new accounts each month during the quarter. And for the fourth consecutive quarter, Merchant Services net total payment volume grew 40% or more year over year. The core Marketplaces segment continued to grow as well; sold items were up almost 13% year over year and accelerated in the US and UK.

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