eBay reported strong fourth quarter earnings Wednesday, driven largely by the sale of Skype to Microsoft last May for $8.5 billion. eBay reported net income for the fourth quarter of $2 billion, with revenue jumping 35 percent to $3.4 billion.

That compared to net income of $559 million and revenue of $2.5 billion for the same period in 2010.

eBay bought Skype in 2005 for $2.6 billion in cash and stock, but the e-commerce and online payments company sold off most of its stake in Skype in 2009. With Microsoft’s purchase last year eBay sold its remaining minority position for about $2.2 billion in cash.

eBay President and CEO John Donahoe said in a statement:

“We had a strong fourth quarter finish to an excellent year, increasing our confidence in our three-year outlook. Across eBay, PayPal, GSI and X.commerce, we have a robust portfolio of global commerce platforms and innovative mobile, local and social commerce technology assets. We are well-positioned to compete in the emerging new retail environment, and to help retailers of all sizes grow and engage their customers anytime, anywhere. We are a different eBay today, no longer just an ecommerce leader but a stronger, more diverse global commerce company shaping the future of shopping and payments.”

eBay’s PayPal business remains a strong growth story, finishing the quarter with 106.3 million registered accounts and revenue growth of 28 percent.

Previously on GeekWire: Microsoft vet Ken Moss lands at eBay, plans to grow Seattle office

 

Like what you're reading? Subscribe to GeekWire's free newsletter to catch every headline

Comments

Job Listings on GeekWork

Find more jobs on GeekWork. Employers, post a job here.