Payments business unit revenue increased 22% in Q4
eBay has posted fourth quarter revenue of $2.49bn, an increase of 5% compared to $2.37bn in the same period last year primarily driven by the continued growth in PayPal business.
The payments business unit reported revenue of $971m, an increase of 22% year-over-year compared to $796m in the same quarter previous year; marketplaces business unit recorded $1.5bn in revenue, a 4% year-over-year increase.
Net income was $559m or $0.42 per diluted share for the fourth quarter of 2010, compared to $1.35bn or $1.02 per diluted share in the same period a year ago.
For the full year, the company posted revenue of $9.15bn and net income of $1.8bn or $1.36 per diluted share.
eBay president and CEO John Donahoe said the company delivered a strong fourth quarter and a solid year, driven by their customer focus, commitment to technology-led innovation and their operating discipline, which is enabling them to reinvest in growth.
"We are driving strong global growth at PayPal and strengthening our core eBay business and are innovating in areas such as mobile, which is helping to position us at the forefront of trends shaping the future of shopping and payments," Donahoe said.
For the first quarter of 2011, eBay estimates net revenues to be in the range of $2.4bn to $2.5bn, and earnings per diluted share to range between $0.34 and $0.36.