VoIP industry leader Skype has announced positive third quarter earnings with the company targeting even more growth in the year ahead.
The company reported 41% growth in its member base to 521 million people, with 40 million registered within the last quarter, while free Skype-to-Skype minutes grew by 74% to 27.7 billion.
Revenue jumped 29% to $185 million, with “SkypeOut” minutes recording a 29% growth. The company said if it continues along the same path, $1 billion annual revenue could be recorded by 2011.
The company is the midst of a legal battle, with its original founders pulling the licensing agreement from a deal organised with eBay that ensures Skype can operate.
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Patrick Stafford is a freelance journalist and a former deputy editor of SmartCompany.
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