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EBay’s profit falls 59% in Q4 to $559.2M â€Ž

21 January 2011 10:59 (UTC +04:00)

Baku â€“ APA-Economics. E-commerce company eBay Inc. on Wednesday reported fourth quarter net income of $559.2 million, or 42 cents a share, a 59 percent drop from net income of $1.35 billion, or $1.02 a share in the same period last year, San Jose Business Journal reported.

San Jose-based eBay (NASDAQ:EBAY) had revenue of $2.5 billion, up 5 percent from the year-ago quarter’s $2.37 billion.

Excluding items, the company would have earned $683.8 million, or 52 cents a share.

In the fourth quarter of 2009, the company recognized a gain on the sale of Skype of $1.4 billion, which was partially offset by a settlement agreement between Skype, Joltid and entities controlled by its founders in the amount of $343.2 million.

For the full year, eBay reported net income of $1.8 billion, or $1.36 a share, on $9.2 billion in revenue.

PayPal ended the quarter with 94.4 million active registered accounts, adding approximately one million active accounts per month. PayPalâ€™s net total payment volume was $26.9 billion in the fourth quarter, driven primarily by growth in its Merchant Services business.

Read more: EBay’s profit falls 59% in Q4 to $559.2M | Silicon Valley / San Jose Business Journal