EBay Inc. posted net income of $460 million for the second quarter, a 22% increase over $376 million in the prior year.
The online marketing giant reported revenue of $2.2 billion for the quarter ended June 30, a 20% increase over $1.8 billion last year.
The San Francisco firm’s marketplaces unit, which consists of EBay, Shopping.com, StubHub, Kijiji and other ecommerce sites, posted $1.46 billion in revenue for the quarter, a 13% increase over $1.44 billion in the prior year.
Management attributed these results to strong growth in advertising, StubHub and classifieds.
Overall, EBay posted an operating margin of 24.8% for the quarter, compared to 24.9% in the prior year. Management attributed this primarily to its faster growing, lower-margin businesses, such as PayPal and Skype.
“This was a strong quarter and we are very pleased with the performance of the portfolio, particularly with the growth
generated by PayPal,” said CEO John Donahoe, in a statement. “We have made bold moves across the EBay marketplace to accelerate long-term growth. We remain confident in our strategies to improve the customer experience as we manage in an uncertain economic climate.”
