Auction website eBay has reported financial net revenues totaling a record $266.3 million.
Online net transaction revenues in Q2 increased 66 per cent year-over-year to a record $235.3 million, driven by 48 per cent year-over-year transaction revenue growth in the U.S. and 152 per cent year-over-year growth internationally.
The transaction revenue growth, however, was partially offset by an 11 per cent decrease in third party advertising revenues. As a result, consolidated Q2 net revenues increased 47 per cent over the $180.9 million generated over the same period last year.
It also eBay reported record gross profit totaling $221.7 million or 83 per cent of net revenues during the quarter, up from the 82 per cent gross profit reported in Q2.
eBay added 4.4 million new confirmed registered users, offset by approximately 700,000 user IDs eliminated as part of the company’s enhanced trust and safety policies at Internet Auction Company, its South Korean subsidiary.
Cumulative confirmed registered users at the end of Q2 totaled 49.7 million, representing a 46 per cent increase over the 34.1 million users reported at the end of Q2-01.
Based on the company’s performance, eBay now expects that net revenues for Q3 will be between $278 and $281 million
For the full year 2002, eBay expects net revenues to hit $1.1 billion..
