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Online Payments

PayPal: number of active registered accounts up 16% in Q1 2011

Thursday 28 April 2011 | 11:25 AM CET

PayPal, the online payments division of eBay, has witnessed a 16 percent year-over-year growth in the number of active registered accounts, reaching 97.7 million in Q1 2011, recent financial results have shown. 

PayPal’s net total payment volume has seen a 28 percent growth to USD 27.4 billion in Q1 2011 compared to the same period of last year, mainly due to the 38 percent growth year-over-year in its merchant services business across global markets.

eBay has seen its Q1 2011 revenue increase by 16 percent to USD 2.5 billion, compared to the same period in 2010.

According to the results, eBay’s Q1 2011 net income on a GAAP basis was USD 476 million, or USD 0.36 per diluted share. In addition, the company’s Q1 2011 non-GAAP net income was USD 619 million, or USD 0.47 per diluted share, a 12 percent increase compared to Q1 2010.

The number of eBay’s active users has increased by 5 percent year-over-year to 95.9 million, with significant growth in North America, the UK, Germany and Australia.

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