eBay revenue up 32%
By Sumir Singh

Global ecommerce and online payments leader eBay has reported that revenue for the third quarter ended September 30, 2011, increased 32% to $3.0 billion, compared to the same period of 2010. The company reported third quarter net income on a GAAP basis of $490.5 million, or $0.37 per diluted share, and non-GAAP net income of $628.2 million, or $0.48 per diluted share. The year-over-year increase in third quarter GAAP and non-GAAP earnings per diluted share was driven primarily by strong top-line growth, partially offset by continued investment in key strategic initiatives and the impact of acquisitions.

The company's PayPal business continued to expand its leadership position in global payments. PayPal ended the quarter with 103.0 million active registered accounts, a 14% increase year over year. PayPal revenue increased 32% year over year driven primarily by increased penetration on eBay as well as continued merchant and consumer adoption. PayPal's net total payment volume (TPV) grew 31% to $29.3 billion in the third quarter of 2011 compared to the same period of last year.