"Millionaire" online businesses selling on e-commerce site eBay, Inc. (NASDAQ: EBAY) have jumped 50 percent in key international markets Britain and Germany in the last four years, despite currency swings that have slowed growth outside the United States.
Data published on Tuesday by eBay shows that the number of million euro businesses selling on eBay grew to 1,095 from 731 in Germany last year since 2013 while million pound-plus businesses rose to 663 from 443 in Britain over the same time period. The fact that the UK and Germany are home to such an increase should come as no surprise, as both markets combine to make up 30 percent of eBay’s entire net revenue.
While the company founded 22 years ago started out as an online auction site for consumers to trade second-hand goods, 80 percent of merchandise now sold via eBay is new, largely fixed-price items, the company reported in the first quarter of 2017.
Reuters reports that the United States grew 6.7 percent to $3.87 billion in 2016, making up 43 percent of total eBay revenue, while the rest of Europe and other international markets gained 9 percent in U.S. dollar terms for the remaining 27 percent of company revenue.
EBay is scheduled to report its second-quarter results on July 20, when it is expected to report a 3.6 percent rise in net revenue to $2.31 billion.