PayPal Now Has Over 90 Million Active Accounts

eBay Inc. (NASDAQ:EBAY) has announced their quarterly earnings and a lot of their strong performance was due to ownership of PayPal. PayPal is growing by leaps and bounds. eBay’s overall third quarter income rose 23% and there was a 0.5% increase in revenue. There has been a 3% rise in the total volume of goods sold through eBay, but this does not include automobiles. PayPal ended the quarter with 90 million active users and revenues were at $838 million. eBay’s third quarter profit as a whole was up to $431.9 million — they were at $350 million last year during the same period. [WSJ]

This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at
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