EBay reveals 26 per cent rise in revenues for UK operation

Online auction company eBay's UK operation announced a 26 per cent quarter-on-quarter revenue increase in its latest financial results.

The company posted overall international revenues of $64.3 million (£41.8m) for the three months to 30 June 2002.

This represented an increase of about 150 per cent on the equivalent period last year, when it posted international revenues of $25.9m (£16.7m).

In the first quarter of this year, eBay UK facilitated auctions to the value of £91m from one million registered users who posted 5.6 million listings.

EBay's overall global revenues were up almost a half compared with last year, at $266m (£171.6m).

Third-party advertising accounted for over six per cent, added-value services for two per cent and offline revenue for 3.5 per cent. The remainder (88 per cent) came from online auction transactions.

Third-party advertising revenue was down 11 per cent year on year, at $16.7m (£10.8m), down from 10 per cent of net revenue last year.

The company's intended $1.3 billion (£800m) acquisition of online payment provider PayPal won't be closed until the end of this year, subject to regulatory procedures. It will be rolled out in the US before it is considered for other regions.

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