eBay Q2 results

On July 18th eBay posted their second quarter results.  Here is a snapshot:

• Marketplaces net revenues totaled a record $1.29 billion in Q2-07, a growth rate of 26% over the $1.03 billion reported in Q2-06.  eBay’s users posted a total of 559 million listings in Q2-07, 6% lower than the 596 million listings posted in Q2-06. These listings generated Gross Merchandise Volume (GMV) of $14.46 billion in Q2-07, representing a 12% year-over-year increase from the $12.90 billion reported in Q2-06.
• Store inventory listing were down 25%

Improved performance then.  Presumably increased marketplace growth on a lower number of listing must mean increased conversion rates.  Perhaps to some extent the increase in SIF listing fees has weeded out the rubbish listings as intended.

It is interesting to note that eBay GMV is growing considerably slower than ecommerce as a whole (around 20%).

• PayPal net revenues totaled a record $454 million in Q2-07, a growth rate of 34% over the $339 million reported in Q2-06. Globa TPV was $11.69 billion in Q2-07, a 32% increase from the $8.86 billion reported in Q2-06.

PayPal continues to grow stongly, keeping up with the growth of ecommerce.  It would appear that Google Checkout is not beginning to bite yet.

• As of June 30th, eBay had 241 million users, an year on year increase of 19%
• Active users grew 7% to 83 million

Overall I think that these numbers are pretty positive, althought it does show that in many ways, PayPal is outstripping the performance of its parent, and that eBay is still hanging behind ecommerce as a whole