eBay, an e-commerce conglomerate announced that it increased it 2011 revenue by 25 percent and made a expectation break record revenue of $11.7 billion. The company generated its net income on GAAP basis of $3.2 billion and $2.7 billion in non-GAAP net income for the full year. The report confirms the company earning closed out at $3.4 billion in revenue during the Q4.
“We had a strong fourth quarter finish to an excellent year, increasing our confidence in our three-year outlook,” said eBay Inc. President and CEO John Donahoe. “Across eBay, PayPal, GSI and X.commerce, we have a robust portfolio of global commerce platforms and innovative mobile, local and social commerce technology assets. We are well-positioned to compete in the emerging new retail environment, and to help retailers of all sizes grow and engage their customers anytime, anywhere. We are a different eBay today, no longer just an ecommerce leader but a stronger, more diverse global commerce company shaping the future of shopping and payments.”
The company’s PayPal business continued to expand its leadership position in global payments. Paypal ended the quarter with 106.3 million active registered accounts, an increase of 13% year over year. PayPal’s net total payment volume grew 24% to $33.4 billion in the 2011 Q4. The company’s mobile payment volume reached $4.0 billion in 2011, more than five times the mobile payment volume in the prior year, as more consumers used their smartphones and tablets to pay online.
Donahoe also added that eBay’s ability to capitalize on an inflection point, driven by consumers and enabled by new technologies, happening in the shopping space. He stressed that the company is no longer just an e-commerce site but a full-service business with products that merge the online and offline shopping experiences.“We intend to make shopping more locally convenient and more globally accessible,” Donahoe said.