PayPal Fourth Quarter 2007 Results
eBay reported fourth quarter 2007 financial results earlier today - saying that "PayPal posted another stellar quarter with $563 million in revenue, an increase of 35% year-over-year. Net total payment volume (TPV) for the quarter was $14.04 billion, an increase of 35% year-over-year. The revenue and net TPV growth represents increased penetration on eBay as well as expanded adoption of PayPal Merchant Services across the Web. PayPal will continue to focus on greater penetration into the Marketplaces business as well as the acquisition of new merchants."
In other eBay news, eBay CEO Meg Whitman announced she would be stepping down in March. John Donahue, currently president of eBay's auction business, has been named her successor. Rajiv Dutta, currently President of PayPal moves to President of eBay. Scott Thompson, currently PayPal's CTO, will be the new President of PayPal.
44% of PayPal's total payment volume came from PayPal's merchant services customers - up from 35% last year.
PayPal reported active accounts of 57.3 million, up 16% from the prior year.
PayPal reported a transaction revenue rate of 3.84% for the quarter (down from 3.86%), a transaction expense rate of 1.18% (up from 1.13%) and a transaction loss rate of 0.27% (down from 0.43%).
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