Internet auction house eBay has shrugged off the economic gloom to record a big increase in its quarterly profits, rising to $1.98bn for the last three months of 2011 versus $559m a year earlier.
eBay’s figures were boosted by a sale of its remaining stake in Skype to Microsoft, which when excluded from the figures reduced quarterly profits to $789m.
Profits were also given a lift by a strong performance from its online payments division, Paypal.
In a statement eBay president John Donahoe said: “We had a strong fourth quarter finish to an excellent year.
"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.”