Skype and PayPal give the auction site a big profit boost.
eBay has released its first quarter figures, showing revenues of $2.19 billion, up 24% from the same period last year. That’s good news, but a lot of the credit has to go it its
PayPal and
Skype acquisitions, which have both performed exceptionally well.
Skype’s year-on-year growth was a staggering 61%, with first quarter revenues of $126 million and an increase of 33 million users during the period. PayPal took in $582 million during the first quarter, representing a 35% growth over the same period last year.
eBay has owned Skype since 2005, when it bought the VoIP company for $2.6 billion. But it jumped on PayPal quite early, back in 2002 for $1.8 billion.
eBay chief executive John Donahoe was understandably jubilant at the figures.
"This was a very strong financial quarter for the company," he said.The results reflect the strength provided by our diverse portfolio of businesses. Our stability and growth continues to give us the confidence to make innovative changes to our products to keep customers engaged for years to come."
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