eBay Inc. reported financial results for its quarter ended September 30, 2003. eBay reported record consolidated Q3-03 net revenues of $530.9 million, up 84% year over year; record operating income of $155.9 million, up 73% year over year; and record pro forma operating income of $172.2 million, up 87% year over year. Operating income was 29% of net revenues and pro forma operating income was 32% of net revenues.
eBay U.S. net transaction revenues totaled $256.1 million in Q3-03, reflecting 41% year-over-year growth. eBay International net transaction revenues totaled $154.7 million in Q3-03, representing 105% year-over-year growth. Payments net transaction revenues totaled $106.4 million in Q3-03.
Gross profit was a record $421.6 million, or 79% of net revenues, which was down from the 84% level reported in Q3-02, primarily reflecting the lower structural gross margin of the PayPal business and increased investments in technology and customer support.
Other key metrics were announced, including:
Active users, the number of users on the eBay platform who bid, bought or listed over the trailing 12 months, increased to 37.4 million. eBay gained 3.2 million users from EachNet, which eBay acquired in July 2003.
eBay hosts approximately 145,000 stores worldwide.
Listings totaled a record 235 million in Q3-03, 47% higher than the 160 million listings reported in Q3-02.
Gross Merchandise Sales (GMS), the total value of items sold, was a record $5.8 billion, representing a 53% year-over-year increase from the $3.8 billion reported in Q3-02.
Total Payment Volume (TPV), the total payment volume in the company's payments business, was $3.0 billion in Q3-03, up from the $2.8 billion reported in Q2-03.
Based on Q3-03 GMS, eBay has nine categories that deliver $1 billion or more in worldwide annualized GMS: eBay Motors at $6.7 billion; Computers at $2.1 billion; Consumer Electronics at $1.9 billion; Books/Movies/Music at $1.7 billion; Sports at $1.5 billion; Clothing and Accessories at $1.3 billion; Collectibles at $1.1 billion; Home & Garden at $1.1 billion; and Toys at $1.0 billion.
eBay's fixed price trading contributed approximately $1.6 billion or 28% of total GMS during Q3-03, primarily from eBay's "Buy It Now" feature.
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