PayPal Financial Results

eBay reported quarterly financial results this afternoon including results for its PayPal business. During the quarter, PayPal's number of accounts grew 41% year over year to 123 million accounts. The number of accounts active in the quarter grew to 30.9 million, up 26%. Those active accounts generated 146.2 million payments during the quarter averaging about $62 per payment resulting in a total payment volume of $9.1 billion, up 37%. PayPal reported a 46% growth in its transaction loss rate - growing from 24 basis points last year to 35 basis points this year. PayPal's transaction revenue rate was up slightly from 3.6% of payment volume to 3.73% - resulting in PayPal revenues of $340 million, up 42%. 38% of PayPal's revenue was from international.