PayPal to the rescue
Q3 financial results were announced today, and eBay’s profits were up 10%. That is good news for this battered stock, and it appears that lower taxes and PayPal were the major contributors.
I have not analyzed the results yet, so I don’t yet have a complete picture of all the bright spots. However, it is apparent that PayPal’s payments business continues to be a nice performer. On the disappointing side, a very quick look at the Marketplaces Supplemental Operating Data continues to indicate slowing growth in almost every category. Obviously, things haven’t turned around yet for the core business as some folks had hoped. I plan to do a more in depth analysis in the next couple of days. In the meantime, as eBay shareholders we can be mildly pleased with PayPal’s continued performance. Gotta run 🙂