Retailers shift their ad spending from TV, radio and print ads to digital ads.
EBay’s revenue hit $194.4 million and merchandise sales reached $2.3 billion in the third quarter. 16% of eBay’s merchandise sales now come from its non-auction, retail-like formats—-Buy It Now, Half.com and eBay Stores.
Revenue at eBay Inc. grew 71% to $194.4 million for the quarter ended Sept. 30 from the same quarter last year when revenue was $113.4 million, eBay reported today. Consolidated net income for the quarter reached $18.8 million.
"In these extraordinary times, we continue to be impressed by the strength and resiliency of our user community," said Meg Whitman, president and CEO of eBay. "We`re continuing to see sustained growth across our U.S. and international markets, deeper penetration into many vertical categories and expanded adoption of our fixed price trading formats."
EBay says it believes that fourth quarter revenues could be as high as $210 million, or about $5 million higher than its previous estimates.
EBay users transacted a record $2.355 billion in sales during the third quarter, representing 74% year over year increase from the $1.355 billion reported in last year’s third quarter. It hosted a record 108.8 million listings during the quarter, representing 59% year over year growth and 3.5 million users to end the quarter with 37.6 million confirmed registered users, nearly double the 18.9 million users at this time last year.
EBay also reported that Buy It Now, Half.com and eBay Stores trading formats contributed more than 16% of total gross merchandise sales in the thirds quarter, up from 11% in the second quarter.
EBay also reported that for the first time, it achieved 99.9% site availability.