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eBay released its third quarter financial numbers and thanks to the strong growth of its PayPal division, both its revenue and net income increased.
In the third-quarter of 2010, eBay made $2.238 billion in revenue, which was actually up 1% from the same quarter in 2009.
While eBay’s marketplace business generated $1.41 billion in revenue, PayPal’s revenue topped $838 million, a rise of 22%. From these numbers, analysts predict PayPal will be the company’s top revenue driver in just a few years. And with PayPal’s recent release of their photo-based check-depositing app for the iPhone, PayPal continues to innovate new ways to move towards success.
Do you think eBay would be able to financially exist without PayPal?