A Look at PayPal's 3Q2009 Financial Results
PayPal's parent eBay announced financial results for the third quarter 2009 today. PayPal's revenue grew 15% year over year to $688 MM. PayPal's purchase volume grew 19% to $17.7 billion. Active registered accounts reached 78 MM, up 19% year over year. PayPal's revenue ("transaction revenue rate") was 3.67% with transaction processing expense rate at 1.16% and a transaction loss rate of 0.25%.
A presentation on the results is available online. Bill Me Later's volume for the quarter was $200 MM, essentially flat with the prior quarter. BML's outstanding portfolio balance was $561 MM. Net chargeoffs in the BML portfolio were 11.5%, up from 11.1% in the prior quarter.
A transcript of today's eBay conference call is available from SeekingAlpha.com.
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