Annual revenue of eBay is expected to increase to $10 billion to $12 billion in 2011 in comparison with $8.5 billion in 2008 revenue, online auction giant announced on Wednesday.

The leader in ecommerce sector eBay expects significant growth from its payment service PayPal and Internet telecom service Skype over the next three years.

The company expects PayPal revenue to reach $4 billion to $5 billion in 2011, compared with $2.4 billion in 2008. eBay believes that Skype revenue may come to stand for over $1 billion in 2011.