EBay Inc. said second-quarter profit rose 53% on sales that topped $1 billion for the second straight quarter, as the operator of the world’s largest online marketplace saw its U.S. business and payment service grow faster than expected. International sales grew by 51per cent to $418.8 million. The fastest growing sites were the U.K., which was up 94 per cent, and Korea which was up by 78 per cent. Sales in Germany grew by 21% percent, down from 24 per cent growth in the first quarter however gross merchandise volume had increased.
Online payment revenue grew by 51% to $243.9 million, up from a growth rate of 47% in the first quarter. “We saw the rapid increase based on GMV growth, which accelerated, and the other business was off eBay, merchant service,” Meanwhile, eBay’s EachNet business in China is doing well. But beginning this quarter, eBay is not disclosing details on this business.
eBay finance chief Rajiv Dutta said: “The accelerating revenue metrics in our key businesses came from acceleration in U.S. and Germany, and PayPal, benefiting from the lift in gross merchandise volume on eBay,” Additionally, half of PayPal’s growth came from non-eBay transactions.