PayPal's first quarter 2008 financial results

eBay reported first quarter 2008 financial results earlier today - saying that 'PayPal had a strong quarter with $582 million in net revenue, an increase of 32% year-over-year. Net total payment volume (TPV) for the quarter was $14.42 billion, an increase of 34% year-over-year. Growth in global active accounts increased to 60.2 million, representing 17% year-over-year growth.'

43% of PayPal's payments revenue was from international. PayPal's transaction revenue rate was 3.88% - essentially flat from last year - while its transaction loss rate declined from 33 basis points to 24 basis points, a 27% reduction. PayPal's transaction processing expense rate increased slightly to 1.18%.