The Christmas shopping season usually has be the eBay (Public, NASDAQ:EBAY)
CEO’s rubbing their hands together, as they think of all the hot online shopping that will go on. Analysts predicted that eBay would have a good 4th quarter but the company financial results reported yesterday show that the 4th quarter was rather good.
The analysts predicted that eBay’s 4th quarter earnings would be $0.47 per share and $2.49 billion in revenue. eBay came in a little better at $0.52 per share and $2.50 billion in revenue.
It’s no secret that PayPal is a money making beast for eBay, and the last quarter was no exception. The 4th quarter finished showing that there were 94.4 million active PayPal accounts, and that one million PayPal accounts are being created each month.
John Donahoe, eBay CEO, issued a statement giving some idea of where eBay will be moving in the future.
We delivered a strong fourth quarter and a solid year, driven by our customer focus, commitment to technology-led innovation and our operating discipline, which is enabling us to reinvest in growth. We are driving strong global growth at PayPal and strengthening our core eBay business. And we are innovating quickly in areas such as mobile, which is helping to position us at the forefront of trends shaping the future of shopping and payments.
eBay’s money making abilities don’t stop there. Like most big companies they hold a cash, cash equivalents and non-equity investment portfolio. As of 31st Dec 2010 this portfolio was worth $7.8 billion which is a 50% increase from the end of 2009. Not bad!
As more and more people get used to shopping online, we can expect eBay to grow but especially the PayPal branch.