eBay Has Successful Fourth Quarter, Net Income Shoots Up

It seems the several months leading towards the end of 2011 were some good one’s for the World’s largest online auction marketplace, eBay. The company reported higher earnings and net income rose quite significantly while being out Wall Street expectations.

Being that the economy is still slowly rebounding, eBay is a great place for people to shop and get great deals on the products that they want or need. The Christmas and Holiday season is always a good one for e-commerce sites and the auction site is no exception.

Via AP:

“The company earned $1.98 billion, or $1.51 per share, in the October-December quarter. That’s up from $559 million, or 42 cents per share, in the same period a year earlier. Excluding special items such as the Skype gain, eBay Inc. says it earned 60 cents per share in the latest quarter, above the 57 cents that analysts were expecting. Revenue grew 35 percent to $3.38 billion from $2.5 billion.”

Paypal, one of the World’s largest online payment services which is owned by eBay, also did very well.

“The e-commerce and online payments company said its PayPal business continued to grow, ending the quarter with more than 106 million active accounts. That’s up 13 percent from a year earlier. Revenue jumped 28 percent to $1.24 billion and the business processed $33.4 billion worth of payments during the quarter. That’s up 24 percent from a year earlier.”

Sounds like 2011 was a great year for the company. Something interesting worth mentioning is that mobile purchases were up 500% which came out to $4 Billion. Quite the increase and goes to show that mobile usage continues to be on the rise.

Do you buy on eBay or do you prefer another site?