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eBay posts a strong quarter
Jan 19, 2012, 10:58 GMT
San Francisco - Online retailer eBay posted strong revenue and earnings gains Wednesday as its volume of online sales rose 10 per cent in the crucial holiday season.
The dot com darling said its revenue rose 35 per cent to 3.38 billion dollars from 2.5 billion dollars a year earlier, while profits more that tripled to 1.98 billion dollars from 559 million dollars a year ago.
Despite the growth in sales, the company's main boost came from the sale of its remaining stake in Skype. Without income from that deal, eBay's profits would have been 789 million dollars.
EBay also saw strong growth in its PayPal unit, where revenue jumped 28 per cent to 1.24 billion dollars, as the level of payments processed jumped 24 per cent to 33.4 billion dollars.
'We are a different eBay today, no longer just an e-commerce leader but a stronger, more diverse global commerce company shaping the future of shopping and payments,' eBay President John Donahoe said.
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