CyberSource’s Q2 revenue grows 40%, while income shrinks

Second quarter revenue for CyberSource Corp., provider of electronic payment and risk management services, increased 40% over Q2 2006, reaching $22.9 million, CyberSource has reported. Net income in Q2 was $200,000, down from $800,000 a year earlier.

The company also reported that transaction volumes increased 35% to a record 269.2 million during the quarter from 198.7 million transactions in the same period last year.

The company added 2,100 customers in the quarter, including classified ad web site Craigslist.com, jetBlue Airways, The Kroger Co., PING Golf, Public Broadcasting Service, Timberland Switzerland, and WinZip Computing. The additions bring the company’s customer count to over 20,000.

CyberSource reports that it added 150 customers for its merchant transaction acquiring account services during the quarter, bringing its acquiring customer total to more than 1,600.