Topping analyst expectations of $0.69 per share on $3.976 billion revenue for the fourth quarter, eBay has posted earnings of $0.70 a share ($927 million) on $4 billion for the recently passed period, marking an 18% boost in revenue from the same time in 2011. Likewise, the company showed strong results for the full year with revenue jumping 21% on-year to $14.1 billion and a net income of $2.36 per share ($3.1 billion).
PayPal also delivered solid performance, with active account growth accelerating to 15%. The outfit added nearly two million accounts per month during the fourth quarter (its fastest growth rate in years) and it ended 2012 with about 123 billion registered accounts. Meanwhile, its payment volume rose 24%, which is attributed in part to increased mobile activity, geographic expansion and the rollout of offline payments.
"We had a great finish to an excellent year, with fourth quarter results exceeding our expectations," eBay CEO and President John Donahoe said, adding that eBay Marketplaces had an especially fruitful quarter, with a record $2 billion revenue and solid growth in the US. Donahoe also noted that eBay is continuing to focus on mobile, which is shaking up commerce and now accounts for a large piece of the company's business.
Last year, eBay mobile crossed the finish line with over $13 billion in volume, over double that of 2011, while PayPal mobile handled nearly $14 billion in payment volume, more than triple the previous year. Donahoe said he expects the mobile portion of both operations to exceed $20 billion in volume by the end of 2013. Looking ahead, the company wants to fuel expansion across the BRICs (Brazil, Russia, India and China).